Analyst Doug Anmuth of J.P. Morgan maintained a Buy rating on Alphabet Class C, retaining the price target of $232.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Doug Anmuth has given his Buy rating due to a combination of factors that highlight Alphabet’s strong fundamentals and potential for growth. Despite the uncertainty surrounding the Judge’s impending decision on remedies related to Google’s search commercial agreement case, Anmuth remains optimistic about the company’s prospects. He believes that any remedy-driven pullback in the stock presents a buying opportunity, as the potential outcomes of the case may not be as severe as anticipated.
Furthermore, Alphabet’s impressive second-quarter results, including accelerated growth in its Cloud segment and increasing scale of AI search products, bolster Anmuth’s positive outlook. The company’s ability to maintain margin resilience despite increased capital expenditures and depreciation, along with its attractive valuation, further support his Buy rating. Anmuth also emphasizes Google’s leadership in AI, solid growth in Search and YouTube ads, and the strong demand for Google Cloud as key drivers for the stock’s potential appreciation.
In another report released on July 25, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $224.00 price target.
Based on the recent corporate insider activity of 183 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GOOG in relation to earlier this year.