Alphabet Analysts Raise Their Forecasts After Upbeat Q2 Earnings
Portfolio Pulse from Lisa Levin
Alphabet Inc. reported better-than-expected Q2 results with a 7% YoY increase in revenue to $74.604 billion, beating the consensus estimate of $65.42 billion. The company's shares jumped 6.5% in pre-market trading. Following the earnings announcement, Needham and Keybanc analysts raised their price targets on Alphabet.
July 26, 2023 | 11:18 am
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POSITIVE IMPACT
Alphabet's better-than-expected Q2 results and subsequent share price increase may positively impact the company's short-term stock performance. Analysts from Needham and Keybanc have raised their price targets on Alphabet.
Alphabet's Q2 results exceeded expectations, which is a positive signal for investors and can drive the stock price up. The raised price targets by Needham and Keybanc analysts further reinforce the positive outlook for Alphabet's stock.
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IMPORTANCE 90
RELEVANCE 100