ALPHABET INC ( NASDAQ:GOOGLE) Buying OpportunityMarketBeat reports:
Saddle Point Management L.P. bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Get Rating) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,652 shares of the information services provider's stock, valued at approximately $254,000. Alphabet comprises approximately 8.8% of Saddle Point Management L.P.'s holdings, making the stock its 7th largest holding.
Other large investors have also recently made changes to their positions in the company. ( Positions Increased)
GOOGLE has been the topic of a number of recent analyst reports. Loop Capital increased its price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, February 8th. Morgan Stanley increased their target price on shares of Alphabet from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, February 3rd. Barclays increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, February 3rd. MKM Partners increased their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Rosenblatt Securities dropped their target price on shares of Alphabet from $130.00 to $128.00 and set a "buy" rating on the stock in a research report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $132.32.
Technical Overview and Our Trade Idea
Strong Support Zone: 83.00 $ – 86.00 $
Closing Price: 90.90 $
Cycle Sniper Bullish Deviation on Daily but headed south.
Buy: If the price tests and holds the support.
Strong Buy: When the price breaks and closes above 97.00 $
Targets: 100$, 106$, 115$, 122$.
Good Luck!
