The stock of Alphabet Inc (NASDAQ: GOOG) has decreased by -0.28 when compared to last closing price of 169.16. Despite this, the company has experienced a -5.97% fall in its stock price over the last five trading sessions. investorplace.com reported 2024-07-28 that Artificial intelligence (AI) continues to be the major talking point on Wall Street in 2024. This makes the case for the best cheap AI stocks to buy.
Is It Worth Investing in Alphabet Inc (NASDAQ: GOOG) Right Now?
The price-to-earnings ratio for Alphabet Inc (NASDAQ: GOOG) is above average at 24.20x. The 36-month beta value for GOOG is also noteworthy at 1.06. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for GOOG is 5.19B, and at present, short sellers hold a 0.88% of that float. The average trading volume of GOOG on July 29, 2024 was 18.57M shares.
GOOG’s Market Performance
GOOG stock saw a decrease of -5.97% in the past week, with a monthly decline of -9.00% and a quarterly a decrease of 6.79%. The volatility ratio for the week is 2.18%, and the volatility levels for the last 30 days are 1.96% for Alphabet Inc (GOOG). The simple moving average for the past 20 days is -8.67% for GOOG’s stock, with a 9.84% simple moving average for the past 200 days.
Analysts’ Opinion of GOOG
Many brokerage firms have already submitted their reports for GOOG stocks, with TD Cowen repeating the rating for GOOG by listing it as a “Buy.” The predicted price for GOOG in the upcoming period, according to TD Cowen is $220 based on the research report published on July 10, 2024 of the current year 2024.
Rosenblatt, on the other hand, stated in their research note that they expect to see GOOG reach a price target of $181. The rating they have provided for GOOG stocks is “Neutral” according to the report published on June 28th, 2024.
Oppenheimer gave a rating of “Outperform” to GOOG, setting the target price at $185 in the report published on April 08th of the current year.
GOOG Trading at -6.48% 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 -12.74% of loss for the given period.
Volatility was left at 1.96%, however, over the last 30 days, the volatility rate increased by 2.18%, as shares sank -9.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.89% lower at present.
During the last 5 trading sessions, GOOG fell by -5.97%, which changed the moving average for the period of 200-days by +20.92% in comparison to the 20-day moving average, which settled at $183.78. In addition, Alphabet Inc saw 19.69% 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 Pichai Sundar, who sale 22,500 shares at the price of $182.84 back on Jul 17 ’24. After this action, Pichai Sundar now owns 2,204,885 shares of Alphabet Inc, valued at $4,113,803 using the latest closing price.
HENNESSY JOHN L, the Director of Alphabet Inc, sale 1,500 shares at $185.85 during a trade that took place back on Jul 12 ’24, which means that HENNESSY JOHN L is holding 30,824 shares at $278,775 based on the most recent closing price.
Stock Fundamentals for GOOG
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 0.57 for the gross margin
The net margin for Alphabet Inc stands at 0.27. The total capital return value is set at 0.29. Equity return is now at value 30.87, with 21.97 for asset returns.
Based on Alphabet Inc (GOOG), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at 7.13. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is 355.32.
Currently, EBITDA for the company is 100.03 billion with net debt to EBITDA at 0.01. When we switch over and look at the enterprise to sales, we see a ratio of 6.3. The receivables turnover for the company is 6.97for trailing twelve months and the total asset turnover is 0.79. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.08.
Conclusion
In summary, Alphabet Inc (GOOG) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
