Caution Prospective Alphabet Investors

Alphabet (GOOGL) - Get Report may look cheap right now but it could go lower. While shares are up more than 30 percent in the last 52 weeks, at close to $690 a share, Google's parent company has actually been an underperformer year-to-date, down nearly 10 percent. Friday Citigroup analysts cautioned that their channel checks show a slowdown in the growth rate on spending on search marketing, which businesses use to build their online presence and web traffic. Action Alerts PLUS's Jim Cramer thinks Alphabet is a very inexpensive stock.

This article was written by a staff member of TheStreet.