Other tech companies have faced the fury of Wall Street, but Google parent Alphabet Inc. has largely withstood the storm. Analysts on average expect Alphabet to report earnings of $25.89 a share on Tuesday, up from $22.30 a share a year ago.
While other tech companies have faced the fury of Wall Street because of a host of issues, Google parent Alphabet Inc. has largely withstood the storm, and analysts believe it will continue to do so when reporting earnings Tuesday.
“Near term, we are incrementally constructive on Alphabet and Snap and marginally cautious on Meta and Pinterest, PINS, -3.16% ” Rohit Kulkarni of MKM Partners said in an April 14 note, summing up Wall Street’s assessment of Alphabet.A digital advertising expert consulted by Cowen analyst John Blackledge has “positive expectations” for the first quarter, Blackledge said in an April 13 note that reiterates an outperform rating and price target of $3,300.
What to expect Earnings: Analysts on average expect Alphabet to report earnings of $25.89 a share, up from $22.30 a share a year ago. Analysts were projecting $25.04 a share at the end of December. Stock movement: Alphabet’s stock has regressed 17% so far this year, while the S&P 500 index SPX, -2.77% has dipped 10%. Shares of Alphabet are down 8% since the company announced fourth-quarter results on Feb. 1.
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