Alphabet Inc. (NASDAQ:GOOGL) shares are in the spotlight Wednesday ahead of fourth-quarter earnings today after the market closes.
Earnings Expectations And What To Watch
Alphabet is expected to report earnings per share of $2.63 and revenue of $111.42 billion. The company has beat estimates in four of the last four quarters. In the most recent quarter, on October 29, the company reported earnings per share of $2.87 billion, beating the consensus estimate of $2.26. In addition, the company reported revenue of $102.35 billion, beating the consensus estimate of $99.89 billion.
Investors should keep an eye on advertising revenue growth, which has been a critical driver for Alphabet, particularly as it faces competition from other platforms. Additionally, watch for trends in YouTube engagement metrics, as the platform’s performance could significantly impact overall revenue, especially given its role in recent high-profile industry discussions.
Analyst Changes
The company carries a consensus rating of Buy and a consensus price target of $192.38. Recent actions include:
- Roth Capital analyst Rohit Kulkarni maintained a Buy rating on Alphabet and raised the price target from $310 to $365.
- Raymond James analyst Josh Beck upgraded Alphabet from an Outperform rating to a Strong Buy rating and raised the price target from $315 to $400.
Alphabet Shares Trade Flat
GOOG Price Action: At the time of writing, Alphabet shares are trading 0.80% higher at $342.34, according to data from Benzinga Pro.
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