Alphabet Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Benzinga10-30

Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) will release earnings results for its third quarter, after the closing bell on Tuesday, Oct. 29.

Analysts expect the Mountain View, California-based bank to report quarterly earnings at $1.84 per share, up from $1.55 per share in the year-ago period. Alphabet projects to report revenue of $86.3 billion for the recent quarter, compared to $76.69 billion a year earlier, according to data from Benzinga Pro.

Gene Munster, managing partner at Deepwater Asset Management believes Alphabet subsidiary Google‘s reported Project Jarvis initiative signals a major advancement in artificial intelligence-powered web browsing capabilities, highlighting parallel developments from Jeff Bezos-backed Anthropic.

Alphabet shares gained 0.9% to close at $166.72 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

  • Wedbush analyst Scott Devitt reiterated an Outperform rating with a price target of $205 on Oct. 24. This analyst has an accuracy rate of 83%.
  • Truist Securities analyst Youssef Squali maintained a Buy rating and boosted the price target from $196 to $220 on Oct. 16. This analyst has an accuracy rate of 80%.
  • Needham analyst Laura Martin reiterated a Buy rating with a price target of $210 on Oct. 15. This analyst has an accuracy rate of 72%.
  • Cantor Fitzgerald analyst Deepak Mathivanan reiterated a Neutral rating with a price target of $190 on Oct. 9. This analyst has an accuracy rate of 78%.
  • Wells Fargo analyst Ken Gawrelski maintained an Equal-Weight rating and cut the price target from $190 to $182 on Oct. 2. This analyst has an accuracy rate of 71%.

Considering buying GOOGL stock? Here’s what analysts think:

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