Alphabet Stock Gets Boost from Royal Bank Of Canada Target Price Upgrade

Alphabet Inc (NASDAQ:GOOG) has had its 'buy' rating reaffirmed by Royal Bank Of Canada in a research note issued on Thursday. The target price of $475.00 indicates a potential upside of 48.38% from the stock's current price.

A number of other research firms have also weighed in on Alphabet, with Raymond James Financial reiterating its 'strong-buy' rating and Oppenheimer restating an 'outperform' rating with a target price of $400.00 (down from $445.00).

Insiders have been selling their shares of Alphabet stock, with CAO Marsida Saraci selling 449 shares in a transaction on Friday, June 26th at an average price of $341.72.

The company's core business centers on internet search and advertising, with Google Search and the company's ad platforms generating the majority of revenue by connecting advertisers with consumers worldwide.