Is Alphabet (GOOGL) Stock a Buy Ahead of Earnings Wednesday?

TLDR Alphabet reports third-quarter earnings after the close Wednesday, and options pricing points to a move of up to 6% by week’s end. That range puts GOOGL between about $303 and $338, based on Friday’s close. Analysts expect revenue of $127.86 billion, up about 25%, with EPS of $2.96. Google Cloud revenue is forecast to nearly double to $29.15 billion. Alphabet is up just 2% this year, and 12 of 13 tracked analysts rate it a buy with an average target of $433. Alphabet (GOOGL) is set to report third-quarter results after the closing bell on Wednesday. Options traders are pricing in a move of up to about 6% in either direction by the end of the week.

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