Alphabet Class C ( (GOOG) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class C is currently receiving positive attention from analysts, with Pivotal Research’s Jeffrey Wlodarczak reiterating a Buy rating and setting a price target of $245.00, while the stock closed at $195.12 last Thursday. The consensus among analysts is a Strong Buy, with a price target of $219.00, indicating a potential upside of 10.5%. Bank of America Securities also maintains a Buy rating on the stock, reflecting optimism in Alphabet’s growth prospects.
Alphabet is preparing for its second-quarter earnings release, with expectations of earnings per share rising to $2.18 from $1.89 last year, and revenue increasing by 11% to approximately $94 billion. This growth is largely attributed to the Google Cloud segment, which is anticipated to grow by 27% year-over-year due to AI demand. However, Alphabet’s significant spending on AI data centers, projected to reach $75 billion this year, raises questions about the sustainability and profitability of such investments.