Citizens JMP Reiterates Market Outperform Rating on Alphabet (GOOGL)

Citizens JMP analyst Andrew Boone reiterated a Market Outperform rating and $250.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst commented, "Web checkout is set to improve profitability across the mobile ecosystem. We spoke with two third-party providers of website checkout (FastSpring and Paddle) and they both are seeing clients on average benefit by moving to website checkout as the ~10% reduction in conversion is more than made up for by reducing Apple’s 30% take rate to 5% (their elevated fee over Stripe pricing). We believe this is positive for game developers (and their downstream advertising partners including Meta (META, MO, PT $900), Google (GOOGL, MO, PT $250), and Unity (U, MO, PT $35) and for digital app businesses including Duolingo, Life360, Grindr, and Peloton (PTON, MP)."

For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.

Shares of Alphabet closed at $239.17 yesterday.

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