Tue Oct 29 23:23:37 UTC 2024: ## Alphabet (GOOGL) Gets Moderate Buy Rating from Analysts, Despite Recent Insider Selling
**Sioux Falls, SD -** Alphabet Inc. (GOOGL), the parent company of Google, has received a consensus recommendation of “Moderate Buy” from analysts, according to MarketBeat. While 29 analysts have issued buy ratings and three have assigned a strong buy rating, eight analysts remain cautious with hold ratings.
The average 12-month price target among analysts stands at $201.76. This figure varies significantly depending on the analyst, with price targets ranging from $200.00 to $240.00.
Despite the overall positive outlook, recent insider selling activity has raised eyebrows. Notably, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock, and CEO Sundar Pichai offloaded 22,500 shares. While these transactions represent a small percentage of their overall holdings, they come amidst a period of market uncertainty.
Alphabet’s recent quarterly earnings report showed strong performance, beating analyst expectations on both earnings and revenue. The company reported EPS of $1.89, exceeding the consensus estimate of $1.85. Revenue reached $84.74 billion, exceeding the anticipated $70.60 billion.
Analysts remain optimistic about Alphabet’s future, predicting earnings per share of 7.64 for the current year. However, investors are advised to remain cautious given the recent insider selling activity. MarketBeat, a leading financial research firm, has identified five other stocks that top analysts believe are better buys than Alphabet at this time.
Investors can find further insights and analysis on Alphabet and other companies by subscribing to MarketBeat All Access, which provides access to the firm’s comprehensive research tools.
First Piper 