Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Alphabet Inc Class C stock, commonly known as Google stock, has reached a new all-time high, hitting 258.13 USD. With a market capitalization of $3.1 trillion, the tech giant maintains its position as one of the world’s most valuable companies. According to InvestingPro data, analysts maintain a strong buy consensus with a high price target of $300. This milestone reflects a significant growth trajectory, with the stock experiencing a remarkable 54.13% increase over the past year. The surge in stock price underscores the company’s robust performance and investor confidence, supported by a healthy 13.13% revenue growth and a P/E ratio of 27.05. InvestingPro analysis reveals 15+ additional investment tips and comprehensive metrics for Alphabet, available to subscribers. This all-time high highlights Alphabet Inc’s resilience and ability to adapt in a rapidly evolving market landscape, earning a "GREAT" financial health score from InvestingPro’s comprehensive analysis framework.
In other recent news, Alphabet has been making headlines with several significant developments. The tech giant is reportedly in discussions with AI startup Anthropic for a cloud computing deal potentially worth tens of billions of dollars, as reported by Bloomberg News. This potential agreement would provide Anthropic with substantial computing infrastructure from Google’s cloud division. Additionally, Google has reached an agreement to invest in THG Ingenuity, valuing the British e-commerce company’s demerged arm at approximately $1.01 billion.
On the financial front, Raymond James has raised its price target for Alphabet to $275, citing increased optimism about search revenue. The firm maintains an Outperform rating for the company. Meanwhile, Scotiabank has reiterated its Sector Outperform rating with a $310 price target, despite the launch of OpenAI’s Atlas, which could pose a threat to traditional search interfaces. These developments highlight the dynamic nature of Alphabet’s business and its ongoing strategic investments and partnerships.
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