Alphabet (Google) share price: what to expect from its Q4 results

Will Alphabet – the parent company of Google – beat or miss earnings and revenue targets when it reports its fourth quarter, FY19 results next week?

When will Alphabet report their results?

Alphabet – the parent company of tech behemoth Google (GOOG) – is expected to report its fourth quarter, FY19 financial results on 3 February, after the market close.

Will Alphabet beat or miss on its key targets?

Alphabet missed on analyst revenue targets in the third quarter – posting net revenue of US$33.009 billion. (This figure excludes Google’s Traffic Acquisition Costs.) At the time, and according to Business Insider, ‘Wall Street was looking for [revenue of] $US32.7 billion.’

Coming into this new round of earnings, analysts have upped their expectations – projecting Alphabet to report fourth quarter revenues of US$38.34 billion.

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Speaking of those results Q3, Sundar Pichai – CEO of Alphabet and Google – said:

‘I am extremely pleased with the progress we made across the board in the third quarter, from our recent advancements in search and quantum computing to our strong revenue growth driven by mobile search, YouTube and Cloud.’

Mr Pichai continued by saying that:

‘We’re focused on providing the most helpful services to our users and partners, and we see many opportunities ahead.’

In step with Wall Street’s heighted revenue expectations, analysts are now anticipating strong bottom-line growth from the global tech company during Q4.

Earnings per share – on an adjusted basis – are currently expected to come in at US$14.098, during Q4, according to Bloomberg Data.

By comparison, in Q3 Alphabet reported EPS of US$10.12.

Alphabet (Google) share price: a longer-term view

Beats or misses aside, Alphabet remains overwhelmingly liked by analysts. All 16 analysts covering the stock currently rate it a BUY, according to Bloomberg Data.

Indeed, in the last twelve months Alphabet has outperformed the broader market – rising 37.0% in that period. At the time of writing, Alphabet’s share price stood at US$1,450.50 per share.

Even with that impressive share price run-up considered, analysts continue to see upside for the tech behemoth over the next 12-months, with the stock carrying an average 12-month price target of US$1,544.50 per share, according to Bloomberg Data. Such a target implies potential upside of around ~6%, from current price levels.

Mind you, there is some price target variance among analysts.

The lowest share price target comes from Stifel’s analyst: Scott Devitt. Mr Devitt has a BUY rating and a price target of US$1,287 on Google.

On the most bullish end of the spectrum – Pivotal Research Group has a BUY rating on GOOG and a significant price target of US$1,650 per share.

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