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Wednesday, December 2, 2020

The Rejuvenation of Alphabet Inc. (NASDAQ:GOOGL)

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Alphabet Inc. (GOOGL) shares are trading at lower $1575.57 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $1541.44.

To add more color to this target, the company’s high over the last year is $1587.05 and the low is $1008.87. Over the last 52 weeks, GOOGL is up 32.23% while the S&P 500 is up 16.12%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, GOOGL reported a profit of $19.74 billion. Alphabet Inc. also saw revenues increase to $38.3 billion. In addition, GOOGL has free cash flow of $14.05 billion as of 06-2020. The company’s EBITDA came in at $9.77 billion which compares well with its peers.

GOOGL booked profit margins of 19.00%, its Return on Equity (ROE) is 15.60%, and its Return on Assets is 11.60%. All told, it is clear that, GOOGL needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. GOOGL has a short ratio of 1.49 and outstanding shares of 681.77M.

Company Outlook

GOOGL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.32 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 44.22. Alphabet Inc. GOOGL also noted assets of $278.49 billion at the end of the last quarter. Investors should also keep an eye on sector updates as GOOGL has historically followed its peers on positive news.

All told, Alphabet Inc. GOOGL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GOOGL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Alphabet Inc. GOOGL is now commanding a market cap of 1073.94B and a float of 613.80M. GOOGL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of GOOGL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in GOOGL, either long or short, and we have not been compensated for this article.

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