RBC Capital Reiterates Outperform on Alphabet (GOOGL) Following 3Q Beat
- Wall Street dips as investors ready for Trump's inauguration
- Western Union (WU) Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits $586M in Settlement
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
RBC Capital reiterated an Outperform rating and $1025.00 price target on Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) following the company's 3Q earnings report. Gross revenue of $22.5B was about 2% above the Street at $22.0B, with the beat primarily coming from Google Sites. Non-GAAP EPS of $9.06 was above the Street at $8.62.
Analyst Mark Mahaney commented, "GOOGL Q3 Revenue, Non-GAAP Op Inc, and Adj. EPS all came in above the Street and generally in-line with our estimates. Continued strong Advertising Revenue growth (on tough comps) and expanding overall margins are the key highlights, along with the new $7B share repurchase plan, though TAC keeps stepping up. Reiterate Outperform, $1,025 PT."
Shares of Alphabet closed at $817.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Netflix (NFLX) Long-Term Thesis Still Playing Out, Remains Top Pick - RBC Capital
- CSX (CSX) Activist Rumblings Should Put Upward Pressure on Shares, Says Deutsche Bank
- UPDATE: SunTrust Starts Wesco Aircraft Holdings (WAIR) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesRBC Capital, Earnings, Mark Mahaney
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!