Alphabet Faces Several Price Target Cuts After Q2 Print, But This Analyst Disagrees

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.