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Analysts Are Bullish on These Communication Services Stocks: Spotify (SPOT), Alphabet Class A (GOOGL)

Tipranks - Tipranks - Wed Aug 5, 11:18AM CDT

There’s a lot to be optimistic about in the Communication Services sector as 2 analysts just weighed in on Spotify (SPOT) and Alphabet Class A (GOOGL) with bullish sentiments.

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Spotify (SPOT)

In a report released today, Mark Mahaney from Evercore ISI maintained a Buy rating on Spotify. The company’s shares closed last Tuesday at $484.60.

According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 13.3% and a 56.3% success rate. Mahaney covers the Technology sector, focusing on stocks such as Ibotta, Inc. Class A, Uber Technologies, and Life360, Inc. ;'>

Currently, the analyst consensus on Spotify is a Strong Buy with an average price target of $617.00, implying a 32.1% upside from current levels. In a report issued on July 22, Benchmark Co. also maintained a Buy rating on the stock with a $650.00 price target.

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Alphabet Class A (GOOGL)

In a report released today, Justin Post from Bank of America Securities maintained a Buy rating on Alphabet Class A. The company’s shares closed last Tuesday at $375.88.

According to TipRanks.com, Post is a 5-star analyst with an average return of 22.1% and a 65.9% success rate. Post covers the NA sector, focusing on stocks such as Reddit Inc Class A, Alphabet Class C, and Meta Platforms. ;'>

Currently, the analyst consensus on Alphabet Class A is a Strong Buy with an average price target of $424.83, a 15.4% upside from current levels. In a report issued on July 23, Freedom Capital Markets also upgraded the stock to Buy with a $400.00 price target.

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