- Google partners with Databricks for AI models, impacting AI industry dynamics.
- Analysts forecast a potential 12.73% upside for Alphabet Inc (GOOG, Financial).
- GOOG stock rated as "Outperform" by major brokerage firms.
In a significant move within the tech industry, Google (GOOG) has reportedly forged a partnership with Databricks to host its artificial intelligence Gemini models. This strategic development is set to shake up the AI landscape, particularly as Snowflake (SNOW) was earlier engaged in discussions with Google regarding its AI capabilities. Despite this promising expansion, Google's stock experienced a slight decline of 0.9% in premarket trading.
Wall Street Analysts Forecast
Current analyses from 18 Wall Street analysts indicate an average one-year price target for Alphabet Inc (GOOG, Financial) at $201.56. The projections range from a high of $225.00 to a low of $185.00. This average price target suggests a potential upside of 12.73% from its present trading price of $178.79. For a comprehensive breakdown, visit the Alphabet Inc (GOOG) Forecast page.
Furthermore, consensus across 22 brokerage firms rates Alphabet Inc's (GOOG, Financial) stock at an average of 1.6. This rating reflects an "Outperform" status on a scale where 1 is a Strong Buy and 5 is a Sell, underscoring the stock's strong market sentiment.
According to GuruFocus, the estimated GF Value for Alphabet Inc (GOOG, Financial) over the next year stands at $199.10. This figure represents a projected upside of 11.36% from its current market price of $178.79. The GF Value is derived from historical trading multiples alongside assessments of past and future business performance. For more detailed analysis, explore the Alphabet Inc (GOOG) Summary page.
