Needham has revised its price target for Alphabet (GOOG, Financial), increasing it to $210 from the previous $178, while maintaining a Buy rating on the stock. The adjustment reflects Alphabet's strategic market positioning and corporate culture, which contribute positively to its valuation, as noted by the analyst in a research communication.
The analysis highlights that Google Search has been a major beneficiary of the internet technology wave, while Android excelled in the mobile tech sector. Google Cloud has similarly capitalized on the cloud technology expansion, and the firm anticipates that Gemini will be a significant player in the GenAI technology wave. Additionally, Alphabet's operational enhancements, driven by labor productivity trends, further support its favorable outlook.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $202.67 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 10.69% from the current price of $183.10. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $200.47, suggesting a upside of 9.49% from the current price of $183.1. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.