Tue Dec 10 14:30:00 UTC 2024: ## Alphabet Stock Jumps on Positive Analyst Ratings and Strong Earnings

**New York, NY – November 1, 2024** – Alphabet Inc. (GOOG) saw its stock price surge 1.3% to $176.49 during midday trading on Monday, following a strong earnings report and a flurry of positive analyst ratings. Trading volume was slightly lower than average at 13,319,549 shares.

The tech giant exceeded expectations in its most recent quarterly earnings, reporting earnings per share (EPS) of $2.12, surpassing the consensus estimate by $0.29. Revenue also topped projections at $88.27 billion, a 15.1% year-over-year increase. Alphabet also announced a quarterly dividend of $0.20 per share.

Several investment firms boosted their price targets for Alphabet on Wednesday, October 30th. Jefferies Financial Group raised its target to $235 (buy rating), Wells Fargo & Company to $187 (equal weight), UBS Group to $192 (neutral), Barclays to $220 (overweight), and Canaccord Genuity Group to $225 (buy). Currently, MarketBeat.com shows a Moderate Buy rating with a consensus price target of $200.56.

Despite recent insider stock sales by CAO Amie Thuener O’toole and Director John L. Hennessy, institutional investors remain largely bullish, with several increasing their holdings in the company.

Alphabet’s strong performance and positive analyst sentiment contribute to its current market capitalization of $2.16 trillion. However, according to MarketBeat, other stocks are currently considered better buys by top-rated analysts.

Read More