Alphabet Inc. GOOG GOOGL reported downbeat earnings for its second quarter on Tuesday. However, revenue for the company’s Search and Other segment was $40.7 billion, up 13.7% year-over-year.
Alphabet shares gained 4% to $109.20 in the pre-market trading session.
Several analysts made changes to their price targets on Alphabet following the release of results.
Below are the analysts lowering price target on Alphabet.
- Citigroup lowered price target on the stock from $145 to $140.
- Piper Sandler lowered Alphabet price target from $139 to $135.
- Credit Suisse cut the price target on the stock from $143 to $140.
- Rosenblatt lowered the price target from $205 to $154.
- Wells Fargo lowered Alphabet price target from $170 to $160.
- Raymond James cut the price target on the stock from $159 to $143.
- Evercore ISI Group lowered Alphabet price target from $155.5 to $140.
- Jefferies cut the price target on the stock from $155 to $130.
However, below is the analyst raising price target on Alphabet.
- Morgan Stanley raised price target on Alphabet from $140 to $145.
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