What's Happening with GOOGL
Alphabet (GOOGL), the company behind search engine giant Google will report its fourth-quarter numbers on February 3. The company will report after the market close with the consensus calling for earnings of $12.76 per share, versus $12.77 during the same period last year.
Technical Analysis
GOOGL was recently trading at $1435.11 down $65.47 from its 12-month high and $408.08 above its 12-month low. InvestorsObserver gives GOOGL a 86 long-term technical score and a 80 short-term technical score. The stock has recent support above $1400 and recent resistance below $1500. Of the 30 analysts who cover the stock 24 rate it Strong Buy, 3 rate it Buy, 3 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, GOOGL gets an overall score of from InvestorsObserver.
Analysts' Thoughts
GOOGL has been one of the top-performing stocks in the market in recent years and has helped drive the bull market that has pushed the major indexes to all-time highs. The company missed on the bottom line last quarter while sales were slightly higher than expected. Wall Street focused on the company's revenue growth and pushed the stock higher. GOOGL is currently trading just shy of its all-time high with a P/E of 30. Tech stocks typically trade at higher multiples than other sectors so the 30 P/E is acceptable as long as the company is able to keep pace with future estimates. Being the clear leader in search, Google will remain a Wall Street darling as the barriers of entry into the sector remain high and Google faces very little competition other than Facebook (FB). The street expects a small earnings beat this quarter with a whisper number of $13.05. GOOGL is priced for perfection, but the market will react positively to the expected earnings beat and push share higher. Analysts have an average price target of $1,501.84 on the stock.