What to Expect When Alphabet Reports After the Close

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Alphabet Inc. (NASDAQ: GOOGL) is scheduled to release its most recent quarterly earnings after the markets close on Monday. The consensus estimates from Thomson Reuters are $4.46 in earnings per share (EPS) and $25.64 billion in revenue. In the same period of last year, the company posted EPS of $8.42 and $21.5 billion in revenue.

It was recently announced that the Google division of Alphabet plans to relaunch its Glass wearable product. Glass was first released in August 2013, but by January 2015 it was withdrawn from the market. Originally targeted at consumers, Google will launch a new version aimed at the corporate market. The original Glass launch was among the most visible tech product failures of recent years. We can look for an update on this in the upcoming report.

Earlier this month, Nutanix Inc. (NASDAQ: NTNX) announced a new partnership with Google. Nutanix ultimately formed this partnership to allow customers to move application workloads easily between on-premise data centers running on Nutanix gear and Google’s public cloud.

At VidCon in June, some interesting YouTube statistics came to light, ahead of this earnings report. Currently there are 1.5 billion logged-in users on YouTube every month. YouTube’s CEO for three years, Susan Wojcicki, noted that the TV screen was its fastest-growing medium of consumption, saying the category was growing 90% mobile video usage and how quickly its service is gaining viewers on TVs. Also YouTube’s 37 original series and movies have generated nearly 250 million views. Google originally purchased YouTube for $1.65 billion back in 2006.

Ahead of the earnings report, a few analysts weighed in on the stock:

  • Deutsch Bank has a Buy rating with a $1,258 price target.
  • Wells Fargo has an Outperform rating.
  • Morgan Stanley has an Overweight rating with a $1,050 price target.
  • JPMorgan has an Overweight rating with a $1,075 price target.
  • Needham has a Buy rating with a $1,050 price target.
  • Pivotal Research has a Hold rating with a $980 price target.
  • Argus has a Buy rating.
  • Credit Suisse has an Outperform rating with a $1,100 price target.
  • Societe Generale has a Buy rating with a $1,210 price target.
  • FBN Securities has an Outperform rating with a $1,025 price target.
  • Jefferies has a Buy rating with a $1,200 price target.
  • Robert Baird has an Outperform rating.

So far in 2017, Alphabet has outperformed the broad markets, with the stock up roughly 25%. Over the past 52 weeks, the stock is up closer to 32%.

Shares of Alphabet were last seen trading at $993.12, with a consensus analyst price target of $1,065.67 and a 52-week range of $743.59 to $1,008.61.