Alphabet Inc. (NASDAQ:GOOGL) Expected to Announce Quarterly Sales of $51.41 Billion

Equities analysts predict that Alphabet Inc. (NASDAQ:GOOGL) will announce sales of $51.41 billion for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Alphabet’s earnings. The lowest sales estimate is $47.86 billion and the highest is $53.31 billion. Alphabet posted sales of $38.01 billion during the same quarter last year, which would indicate a positive year over year growth rate of 35.3%. The business is scheduled to issue its next earnings report on Thursday, November 4th.

On average, analysts expect that Alphabet will report full-year sales of $205.21 billion for the current year, with estimates ranging from $193.55 billion to $209.94 billion. For the next year, analysts forecast that the company will post sales of $239.32 billion, with estimates ranging from $226.83 billion to $246.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alphabet.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The company had revenue of $50.95 billion during the quarter, compared to analysts’ expectations of $46.07 billion. During the same quarter in the previous year, the business earned $10.13 EPS.

GOOGL has been the subject of a number of recent analyst reports. KGI Securities initiated coverage on Alphabet in a report on Wednesday, June 2nd. They set an “outperform” rating and a $3,000.00 price objective for the company. Susquehanna Bancshares boosted their price objective on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Stifel Nicolaus boosted their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. JMP Securities upped their target price on Alphabet from $2,850.00 to $3,100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Finally, The Goldman Sachs Group assumed coverage on Alphabet in a report on Monday. They issued a “buy” rating and a $3,350.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2,841.72.

GOOGL traded up $4.24 during trading hours on Tuesday, reaching $2,850.89. 970,164 shares of the company’s stock traded hands, compared to its average volume of 1,521,662. The firm has a 50-day moving average price of $2,721.31 and a 200 day moving average price of $2,428.14. Alphabet has a 52-week low of $1,402.15 and a 52-week high of $2,925.07. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.90 trillion, a PE ratio of 30.90, a PEG ratio of 1.83 and a beta of 1.00.

Several hedge funds have recently made changes to their positions in the company. Resonant Capital Advisors LLC boosted its position in Alphabet by 1.5% during the second quarter. Resonant Capital Advisors LLC now owns 269 shares of the information services provider’s stock worth $657,000 after purchasing an additional 4 shares in the last quarter. Allied Investment Advisors LLC boosted its position in Alphabet by 3.5% during the second quarter. Allied Investment Advisors LLC now owns 119 shares of the information services provider’s stock worth $291,000 after purchasing an additional 4 shares in the last quarter. Capital Investment Counsel Inc boosted its position in Alphabet by 0.3% during the second quarter. Capital Investment Counsel Inc now owns 1,381 shares of the information services provider’s stock worth $3,372,000 after purchasing an additional 4 shares in the last quarter. New Potomac Partners LLC boosted its position in Alphabet by 2.3% during the second quarter. New Potomac Partners LLC now owns 176 shares of the information services provider’s stock worth $430,000 after purchasing an additional 4 shares in the last quarter. Finally, Atlas Private Wealth Advisors boosted its position in Alphabet by 2.9% during the second quarter. Atlas Private Wealth Advisors now owns 144 shares of the information services provider’s stock worth $352,000 after purchasing an additional 4 shares in the last quarter. 34.43% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Earnings History and Estimates for Alphabet (NASDAQ:GOOGL)

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