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Is a Correction Looming Ahead for Alphabet Inc. (GOOG)

Alphabet Inc. (NASDAQ:GOOG) went up by 5.72% from its latest closing price compared to the recent 1-year high of $152.10. The company’s stock price has collected 8.02% of gains in the last five trading sessions. The Wall Street Journal reported on 01/20/23 that Google Parent Alphabet to Cut 12,000 Jobs

Is It Worth Investing in Alphabet Inc. (NASDAQ :GOOG) Right Now?

Alphabet Inc. (NASDAQ:GOOG) scored a price-to-earnings ratio above its average ratio, recording 19.35 x from its present earnings ratio. Opinions of the stock are interesting as 37 analysts out of 49 who provided ratings for Alphabet Inc. declared the stock was a “buy,” while 8 rated the stock as “overweight,” 4 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $123.04, which is $25.42 above the current price. GOOG currently public float of 5.32B and currently shorts hold a 0.60% ratio of that float. Today, the average trading volume of GOOG was 27.16M shares.

GOOG’s Market Performance

GOOG stocks went up by 8.02% for the week, with a monthly jump of 11.36% and a quarterly performance of -1.01%, while its annual performance rate touched -26.81%. The volatility ratio for the week stands at 2.79% while the volatility levels for the past 30 days are set at 2.68% for Alphabet Inc. The simple moving average for the period of the last 20 days is 10.54% for GOOG stocks with a simple moving average of -7.35% for the last 200 days.

Analysts’ Opinion of GOOG

Many brokerage firms have already submitted their reports for GOOG stocks, with Credit Suisse repeating the rating for GOOG by listing it as a “Outperform.” The predicted price for GOOG in the upcoming period, according to Credit Suisse is $134 based on the research report published on October 11th of the previous year 2022.

MKM Partners, on the other hand, stated in their research note that they expect to see GOOG reach a price target of $140, previously predicting the price at $165. The rating they have provided for GOOG stocks is “Buy” according to the report published on July 18th, 2022.

Cowen gave a rating of “Outperform” to GOOG, setting the target price at $3000 in the report published on July 13th of the previous year.

GOOG Trading at 6.47% from the 50-Day Moving Average

After a stumble in the market that brought GOOG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -34.73% of loss for the given period.

Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 2.79%, as shares surge +10.77% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.99% upper at present.

During the last 5 trading sessions, GOOG rose by +8.02%, which changed the moving average for the period of 200-days by -30.88% in comparison to the 20-day moving average, which settled at $90.29. In addition, Alphabet Inc. saw 11.89% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at GOOG starting from O’Toole Amie Thuener, who sale 855 shares at the price of $91.15 back on Jan 04. After this action, O’Toole Amie Thuener now owns 25,122 shares of Alphabet Inc., valued at $77,933 using the latest closing price.

RAGHAVAN PRABHAKAR, the Senior Vice President of Alphabet Inc., sale 22,203 shares at $89.75 during a trade that took place back on Jan 03, which means that RAGHAVAN PRABHAKAR is holding 76,579 shares at $1,992,617 based on the most recent closing price.

Stock Fundamentals for GOOG

Current profitability levels for the company are sitting at:

  • +30.51 for the present operating margin
  • +56.91 for the gross margin

The net margin for Alphabet Inc. stands at +29.53.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.93.