Alphabet (GOOG) (GOOGL) PT Raised to $910 at Needham & Company

Needham & Company analyst Kerry Rice reiterated a Buy rating and raised its price target on Alphabet (NASDAQ: GOOG) to $910.00 (from $830.00) following strong results.

Rice commented, "Alphabet delivered strong 4Q15 upside highlighted by accelerating Google Website's growth and rising operating margin y/y in its Google segment. Mobile search, YouTube, and programmatic were again key growth drivers, but its Product Listing Ads benefited during the holiday season. Mobile search and YouTube continued to lift paid clicks, but weigh on CPC rates. Despite a seasonally weaker Q1, we estimate that Website's revenue growth remains at 20% and Google's segment margin remains in the high-30% range, despite an expected increase in capex in 2016. We are encouraged by the growth and profitability of the Google segment and believe it is sustainable as the company continues to create innovative products that engage a broad consumer base. The company now has 7 products with +1 billion users."

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 $752.00 yesterday.

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