Alphabet Inc. (GOOG)’s Cloud Strength Drives Solid Q3 Results and Analyst Price Target Hike

Alphabet Inc. (NASDAQ:GOOG) is one of the must-buy US stocks to buy now. On October 30, Stifel raised its price target for Alphabet stock from $292 to $333, maintaining a Buy rating. The firm pointed to strong momentum in Google Cloud, which showed notable revenue and margin growth in the third quarter. With Alphabet trading just below its 52-week high, Stifel analysts see room for further upside, supported by a PEG ratio of 0.77, indicating solid value relative to growth.

Alphabet Inc. (GOOG)’s Cloud Strength Drives Analyst Upgrade and Solid Q3 Results

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Alphabet’s Q3 earnings, released a day earlier, showed a 16% year-over-year revenue increase to $102.3 billion. Google Cloud led the way with 34% growth, driven by demand for AI infrastructure and core platform services. YouTube also exceeded expectations, with Shorts and Connected TV contributing to ad revenue gains. Operating income rose 22%, excluding a $3.5 billion EC fine, and EPS jumped 35% to $2.87.

On October 30, Google partnered with Reliance Intelligence to offer its AI Pro plan free for 18 months to Jio Unlimited 5G users, starting with those aged 18 to 25 and later expanding nationwide. The package includes early access to Gemini 2.5 Pro, image and video tools like Nano Banana and Veo 3.1, 2 TB of cloud storage, and study support via NotebookLM, altogether valued at ₹35,100 and available through the MyJio app. Google aims to make advanced AI tools more accessible across India through this initiative.

Alphabet Inc. (NASDAQ:GOOG) is a holding company best known for its diverse businesses, including Google Search, YouTube, and Google Cloud. The company also pursues various ventures, including autonomous vehicles, health, and life sciences.

While we acknowledge the potential of GOOG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GOOG and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.