On January 13, Truist Securities analyst Youssef Squali maintained a Buy rating on Alphabet Inc. (NASDAQ: GOOGL) and set a price target of $350.00. This affirmation comes just before the technology giant is set to release its fourth-quarter earnings report on February 4.
Analysts at the firm anticipate Alphabet will show strong search momentum, projecting over 15% top-line growth that matches consensus estimates. They noted that both query volume and cost-per-click metrics have contributed to robust search spending.
Google is expected to report solid fourth-quarter results, fueled by high engagement and advertising demand. This is likely to drive mid-teens growth in Search and YouTube. Additionally, a solid Cloud backlog could lead to a 34% revenue increase in that segment.
The firm highlighted the November launch of Gemini 3 as a key catalyst for Alphabet, placing the company at the leading edge of AI performance. Recent data also indicates ongoing gains in Search market share.
Overall, Truist remains optimistic about Alphabet's competitive position, even as competition in the generative AI space intensifies.