Alphabet Inc (GOOGL) Favored Strongly at Credit Suisse; Uplifts PT

Google Amazon in a race to $1,000

Alphabet Inc. (NASDAQ:GOOGL) went up 0.28% during trading on 10/17/2016, closing at $806.84. The stock had a trading capacity of 10.72M shares. Alphabet has a 52 week low of $670.70 and a 52 week high of $828.81. The firm's 50-day moving average price is $802.76 and its 200 day moving average price is $762.22. The stock has a market cap of $546.56 billion, a P/E ratio of 30.81 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 28th. The reported earnings topped the analyst's consensus by $0.02 with the surprise factor around 2.20%. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. During the same period in the previous year, the firm posted $6.99 earnings per share. The company's revenue was up 21.3% compared to the same quarter previous year. On average, analysts anticipate that Alphabet will post $34.11 EPS for the current year.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Finally, Cacti Asset Management LLC acquired a new stake in shares of Alphabet during the second quarter valued at approximately $159,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of Alphabet by 1.8% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company's stock worth $154,000 after buying an additional 15 shares during the last quarter.

Moreover, the Sell-Side continues to remain buyers, as they believe that the stock guarantees a much higher multiple as the company would be able to maintain its Foreign Exchange Growth in excess of around 20%.

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Credit Suisse analyst Stephen Ju highlighted major positives for the search engine giant.

According to an update released by analysts at Credit Suisse the broker has now set a "Outperform" rating on shares of Amazon.com (NASDAQ:AMZN) with a price target of 1050.

The bump in price target from the analyst came as the Sell-Side rolls its valuation parameters for the stock to contemplate the end of 2017. Deutsche Bank AG reissued a buy rating and set a $1,050.00 price target on shares of Alphabet in a research note on Wednesday, October 12th.

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A. The total volume of shares traded was below their three months average volume of 36,416,000 shares. Roble Belko & Company Inc raised its position in shares of Alphabet by 294.9% in the second quarter. The Company's collection include Calico Google's health and longevity effort; Nest its connected home business; Fiber its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital and incubator projects such as Google X. These will be managed separately in Alphabet.