Alphabet stock rose 2.5% due to positive remarks expecting growth, potential sales and earnings beats

From Nasdaq: 2024-07-22 13:44:42

Alphabet stock saw a 2.5% increase on Monday following positive remarks from Wedbush, expecting growth of up to 12.8% in Q2 for Google Search. Analyst Scott Devitt predicts a sales beat for Alphabet in the quarter, with potential for an earnings beat as well.

Despite strong dominance in the market, Alphabet stock remains pricey at 27 times earnings, with free cash flow lagging behind reported income. This raises concerns about the company’s valuation, especially with a price-to-free-cash-flow ratio of 32.

Investors are advised to consider other options, as Alphabet did not make the list of the top 10 stocks identified by The Motley Fool Stock Advisor team for potential high returns. The service has a track record of outperforming the S&P 500 since 2002.

Suzanne Frey, an executive at Alphabet, is a board member of The Motley Fool. The Motley Fool legally discloses its positions in and recommendations of Alphabet stock.



Read more at Nasdaq: Why Alphabet Stock Popped on Monday