tl;dr
Truist Securities maintained its Buy rating on Alphabet's (NASDAQ:GOOG) (GOOGL) shares expecting a solid first quarter, ahead of the company's earnings results next week. The firm also raised its estimates for the Google parent's first quarter and full year 2024, and upped the price target to $170 f...
Truist Securities maintained its Buy rating on Alphabet's (NASDAQ:GOOG) (GOOGL) shares expecting a solid first quarter, ahead of the company's earnings results next week. The firm also raised its estimates for the Google parent's first quarter and full year 2024, and upped the price target to $170 from $158. Truist noted that healthy user engagement continues to drive more ad spending across Search and Social with growth in the first quarter helped by an ongoing recovery in pricing. "We expect 1Q24 results to come in slightly ahead of consensus, with cost containment driving higher Y/Y margins," said a team of analysts led by Youssef Squali in a research note. Conversations with digital ad agencies suggest that the momentum seen in the fourth quarter was sustained in the first quarter across Search and YouTube, helped by Brand and eCom, the analysts added. The analysts expect commentary for the second quarter of 2024 to be cautious due to the macro environment, with continued emphasis on investments in Cloud and AI. With the tech giant underperforming peers year-to-date and with a compelling valuation (plus the potential for a dividend), the analysts remain positive. Squali and his team revised their first quarter and FY24 estimates based on several factors including — positive feedback from industry participants about the resilience of Search ad spending in the first quarter mainly in light of the easy year-over-year comps in the first quarter of 2023 no negative impact from AI deployment in Search by Microsoft (MSFT).
More about Alphabet Inc Class C
Stock: Alphabet Inc. Class C
Description: Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Sector: Technology, Services-Computer Programming, Data Processing, etc.
Market Cap: 1,928,721,596,000
P/E Ratio: 26.9
Dividend Yield: None
Beta: 5.8
EPS: 24.34
Shares Outstanding: 0.24
Market Cap (Common Stock): 307,393,987,000
Price: 163.84
Change: 0.56
Change (%): 0.135
More about Alphabet Inc Class A
Alphabet Inc Class A Summary Alphabet Inc Class A Summary
Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Key Information
Sector: Technology
Services: Computer Programming, Data Processing, etc.
Financial Data
Market Cap: $1,928,733,786,000
PE Ratio: 26.57
Dividend Yield: None
EPS: $5.81
52-Week High: $2,434
52-Week Low: $1,647.4
Price to Book: 0.24
Revenue: $307,393,987,000
Operating Margin: 16.74%
Beta: 0.56
Return on Equity: 13.5%
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company that produces computer software, consumer electronics, personal computers, and related services. Its best-known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: 308.05 billion
Current Price: $37.45
Price Change: $2.86
Change Percentage: 11.07%
Market Cap Change: $30.61 billion
Price-Earnings Ratio: 0.363
Volume: 227,583,001,000
Dividend Yield: 462.27
Beta: 0.332
EPS: 0.176
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