In a report released on July 10, Justin Patterson from KeyBanc maintained a Buy rating on Alphabet Class A, with a price target of $445.00. The company’s shares closed last Friday at $357.18.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
Patterson covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Roku, and Spotify. According to TipRanks, Patterson has an average return of 7.3% and a 47.36% success rate on recommended stocks.
Currently, the analyst consensus on Alphabet Class A is a Strong Buy with an average price target of $428.70, representing a 20.02% upside. In a report released on July 9, Citi also reiterated a Buy rating on the stock with a $447.00 price target.
Based on Alphabet Class A’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $109.9 billion and a net profit of $62.58 billion. In comparison, last year the company earned a revenue of $90.23 billion and had a net profit of $34.54 billion
