Alphabet Inc., the parent company of Google, has seen its stock price rise 38% in 2023.

Alphabet Inc., the parent company of Google, has seen its stock price rise 38% in 2023.

However, the number of analysts with buy ratings on the stock has fallen to 47, the lowest in at least three years.

Some analysts believe that Alphabet's rebound from a November low is running out of steam.

They point to concerns about the company's slowing growth in advertising revenue.

They also worry that Alphabet is facing increasing competition from rivals like Amazon and Microsoft.

Despite these concerns, Alphabet still has a strong balance sheet and a dominant position in the online advertising market.

The company is also investing heavily in new areas like artificial intelligence and cloud computing.

As a result, some analysts believe that Alphabet's stock is still undervalued.

However, others believe that the stock is now fairly valued and that the risk of further downside is increasing.

Ultimately, the direction of Alphabet's stock price will depend on how the company performs in the coming quarters.

Alphabet Inc., the parent company of Google, has seen its stock price rise 38% in 2023.