From Nasdaq: 2024-04-30 06:57:00

Shares of Google’s parent company, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG), have risen 60% in the past year. Susquehanna analyst Shyam Patil raised Google’s price target to $225 due to strong performance in advertising and cloud computing, with first-quarter revenue hitting $80.5 billion.

First-quarter Google advertising sales rose 13% year over year, helping operating profit soar 46% to $25.5 billion. Despite employing 10,000 fewer people, Alphabet’s cloud sales increased 28% to $9.6 billion, with a $900 million operating profit.

Alphabet’s stock is trading at a forward P/E valuation of around 23 times earnings. The company recently announced a dividend and $70 billion in stock buybacks, showing confidence in its future performance.

The Motley Fool Stock Advisor did not list Alphabet among its 10 best stock picks, but investors have had significant success following their recommendations. The service provides guidance on building a successful portfolio and suggests two new stock picks each month.

Alphabet’s executive Suzanne Frey is on The Motley Fool’s board. The Motley Fool holds positions in and recommends Alphabet.



Read more at Nasdaq: Is Alphabet Stock Going to $225? 1 Wall Street Analyst Thinks So.