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Monday, April 24, 2023 12:07:48 PM
Earnings Preview: Alphabet Inc. (NASDAQ: GOOGL)
By: 24/7 Wall St. | April 24, 2023
• Here are previews of five companies set to report results after markets close on Tuesday.
Alphabet
The parent of Google, Alphabet Inc. (NASDAQ: GOOGL), like many other tech giants, spent most of the first quarter recovering from the beatdowns it received in 2022. Alphabet has added about 19.5% to its share price so far in 2023, with most of that coming in the first quarter.
Now Alphabet is trying to recover from a misstep when it introduced its chatbot feature and defend its search business from upstarts like, say, Microsoft. The company has laid off thousands of employees as it tries to rein in costs ahead of an expected slowdown in advertising. Investors are also going to be listening for more specifics about Alphabet’s AI plans.
Analysts, however, remain strongly bullish on the stock. Of 52 ratings, 47 are Buy or Strong Buy, and the rest are Hold ratings. At a recent price of around $105.40 a share, the upside potential based on a median price target of $126.00 is 19.5%. At the high price target of $160.00, the upside potential is 51.8%.
First-quarter revenue is forecast at $68.83 billion, which would be down 9.5% sequentially but up 1.2% year over year. Adjusted earnings per share (EPS) are pegged at $1.07, up 2.1% sequentially and 13.0% lower year over year. For the full 2023 fiscal year, consensus estimates call for EPS of $5.07, up 11.2%, on revenue of $298.62 billion, up 5.6%.
Alphabet stock trades at 20.8 times expected 2023 EPS, 17.5 times estimated 2024 earnings of $6.05 and 14.7 times estimated 2025 earnings of $7.21 per share. The stock’s 52-week trading range is $83.34 to $125.40. The company does not pay a dividend, and the total shareholder return for the past 12 months is negative 15.55%.
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By: 24/7 Wall St. | April 24, 2023
• Here are previews of five companies set to report results after markets close on Tuesday.
Alphabet
The parent of Google, Alphabet Inc. (NASDAQ: GOOGL), like many other tech giants, spent most of the first quarter recovering from the beatdowns it received in 2022. Alphabet has added about 19.5% to its share price so far in 2023, with most of that coming in the first quarter.
Now Alphabet is trying to recover from a misstep when it introduced its chatbot feature and defend its search business from upstarts like, say, Microsoft. The company has laid off thousands of employees as it tries to rein in costs ahead of an expected slowdown in advertising. Investors are also going to be listening for more specifics about Alphabet’s AI plans.
Analysts, however, remain strongly bullish on the stock. Of 52 ratings, 47 are Buy or Strong Buy, and the rest are Hold ratings. At a recent price of around $105.40 a share, the upside potential based on a median price target of $126.00 is 19.5%. At the high price target of $160.00, the upside potential is 51.8%.
First-quarter revenue is forecast at $68.83 billion, which would be down 9.5% sequentially but up 1.2% year over year. Adjusted earnings per share (EPS) are pegged at $1.07, up 2.1% sequentially and 13.0% lower year over year. For the full 2023 fiscal year, consensus estimates call for EPS of $5.07, up 11.2%, on revenue of $298.62 billion, up 5.6%.
Alphabet stock trades at 20.8 times expected 2023 EPS, 17.5 times estimated 2024 earnings of $6.05 and 14.7 times estimated 2025 earnings of $7.21 per share. The stock’s 52-week trading range is $83.34 to $125.40. The company does not pay a dividend, and the total shareholder return for the past 12 months is negative 15.55%.
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