Why Alphabet Stock Fell Today
Shares of Google parent company (NASDAQ: GOOG)(NASDAQ: GOOGL) fell as much as 2.5% early Wednesday, then settled to close down 0.8% after a bearish analyst note ahead of the search giant's upcoming fiscal fourth-quarter release.
In a note to clients this morning, analysts at Evercore ISI included Alphabet stock in its Underperform List, arguing that Wall Street's estimates for operating margin and operating income for its fourth quarter are "too aggressive, given normal seasonal drag factors as well as the full quarter impact of Sunday Ticket expenses."
Indeed, a little over a year ago Alphabet's YouTube subsidiary agreed to a reported $2 billion-per-year, seven-year deal for the exclusive rights to broadcast the NFL's Sunday Ticket on Google's YouTube TV and YouTube PrimeTime services, starting with the 2023 football season.
Source Fool.com
Alphabet Inc. A Stock
The stock is one of the favorites of our community with 165 Buy predictions and 2 Sell predictions.
As a result the target price of 334 € shows a slightly positive potential of 8.16% compared to the current price of 308.8 € for Alphabet Inc. A.
