Alex Belov
Developers by oneinveststock.com. Analyst, investor
Alphabet (Google) Q2 2022 Report and Price Target Update for 2023
On July 26, 2022, Alphabet (Google) holding published a report for the 2nd quarter of 2022. From April to June 2022, revenue was $69.685 billion (up 13% compared to Q2 2021). However, the company’s net profit decreased from 18.525 billion to 16.002 billion dollars (-14%).
Alphabet (Google) Q2 2022 Report
- EPS = 1.21 (forecast: 1.28)
- REV = 69.69B (forecast: 70.04B)
Alphabet (Google) Q2 2022 Revenue by Segment:
- Google search — $40.689 billion;
Google Network — $8.259 billion;
YouTube advertising — $7.340 billion;
Google Cloud – $6.276 billion
other industries — $193 million
In the second quarter of 2022, earnings per share were adjusted 1.21% (analysts had forecast 1.32%). Revenue (excluding traffic acquisition costs) was $57.47 billion (Wall Street forecast $58.14 billion). However, ad revenue of $56.29 billion beat Wall Street’s expectations ($56.14 billion forecast).
Despite this, revenue from Google services was $62.84 billion and did not exceed analysts’ expectations (Wall Street forecast $63.34 billion). However, Google shares rose 5% after the close of the main session. Revenue grew almost 13% to $69.69 billion primarily due to search and cloud computing.
Google is experiencing problems due to exchange rate differences and a strong dollar.
Following the report, analysts have updated their price targets for Alphabet (NASDAQ:GOOGL) stock for 2023
Forecasts, Upside Potential for Alphabet(NASDAQ:GOOGL) in the Next 12 Months
Alphabet
GOOGL
Price on July 26, 2022
$105.02
Consensus Rating = "Buy"
Lowest Price Target
$130
Average target price
$140
Maximum target price
$160
Analysts Update Price Targets and Forecasts for 2023 Following Alphabet (NASDAQ:GOOGL) Report
DATE: 07/27/2022
Analyst "UBS"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $133 → $132
Percent upside potential for stocks
25.69%
DATE: 07/27/2022
Analyst "Jefferies"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $155 → $130
Percent upside potential for stocks
23.79%
DATE: 07/27/2022
Analyst "Evercore ISI Group"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $155.5 → $140
Percent upside potential for stocks
33.31%
DATE: 07/27/2022
Analyst "Wells Fargo"
4.5/5
Consensus Rating = Overweight
Price Target Change for the next 12 months = $170 → $160
Percent upside potential for stocks
52.35%
DATE: 07/27/2022
Analyst "Rosenblatt"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $205 → $154
Percent upside potential for stocks
46.64%
DATE: 07/27/2022
Analyst "Morgan Stanley"
4.5/5
Consensus Rating = Overweight
Price Target Change for the next 12 months = $140 → $145
Percent upside potential for stocks
38.07%
DATE: 07/27/2022
Analyst "Credit Suisse"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $143 → $140
Percent upside potential for stocks
33.31%
DATE: 07/27/2022
Analyst "Citigroup"
4.5/5
Consensus Rating = Buy
Price Target Change for the next 12 months = $145 → $140
Percent upside potential for stocks
33.31%
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