Is Alphabet Losing Its Edge? Analysts Dive Deeper Into Q3 Results
Portfolio Pulse from Priya Nigam
Alphabet Inc's (NASDAQ:GOOGL) shares continued to fall after the release of its Q3 results. The company's revenues increased by 11% YoY to $76.7 billion, and operating expenses rose by 6% to $22.1 billion. Analysts from Needham, Morgan Stanley, and Bernstein provided their insights on the results. Needham maintained a Buy rating and raised the price target from $140 to $160. Morgan Stanley reiterated an Overweight rating but reduced the price target from $155 to $150. Bernstein reaffirmed a Market Perform rating and a price target of $140.
October 25, 2023 | 3:08 pm
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Alphabet's Q3 results showed an increase in revenues but also a rise in operating expenses. Analysts have mixed views on the company's performance, with some maintaining positive ratings while others have reduced their price targets.
Alphabet's Q3 results showed an increase in revenues, which is generally a positive sign. However, the rise in operating expenses could be a concern for investors. The mixed views from analysts, with some maintaining positive ratings while others have reduced their price targets, suggest uncertainty about the company's future performance. This could negatively impact the company's stock price in the short term.
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