Wells Fargo Raises PT on Alphabet (GOOGL) $397 Amid Growing Opportunities for Google Cloud Monetization

Alphabet Inc. (NASDAQ:GOOGL) earns a spot on our list of 8 Best AI Infrastructure Stocks to Invest in.

Wells Fargo Raises PT on Alphabet (GOOGL) $397 Amid Growing Opportunities for Google Cloud Monetization

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As of March 30, 2026, approximately 90% of covering analysts maintain a positive outlook on Alphabet Inc. (NASDAQ:GOOGL), implying 40% upside potential for the stock. The broader optimism is supported by recent analyst commentary.

On March 27, 2026, Wells Fargo maintained its “Overweight” rating and increased its price target for Alphabet Inc. (NASDAQ:GOOGL) to $397 from $387. The firm cited growing opportunities for Google Cloud monetization.

According to the firm, TPU licensing and the acquisition of Wiz could increase Google Cloud Platform revenue by 4% and 6% in 2026 and 2027, respectively, while increasing operating income by 7% and 14%. Additionally, Wells Fargo believes that Alphabet Inc. (NASDAQ:GOOGL) is using its competitive edge in computing capacity to create new profitable streams, strengthening its cloud business’s position as a major source of revenue.

On March 27, 2026, Needham reaffirmed its “Buy” rating and assigned a $400.00 price target to the stock, highlighting Alphabet Inc. (NASDAQ:GOOGL)’s ambitious AI spending as both strategically difficult to match and financially sustainable. According to Needham’s note dated March 13, 2026, Alphabet Inc. (NASDAQ:GOOG) is in a position to use free cash flow to cover all of its capital expenditures from fiscal 2025 through fiscal 2028.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that operates Google services such as search engines, ad platforms, Internet browsers, devices, mapping software, app stores, video streaming, and more. The company also offers cloud infrastructure and platform services, collaboration tools, and other services for enterprise customers, as well as healthcare-related services and internet services.

While we acknowledge the risk and potential of GOOGL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GOOGL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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