DA Davidson Lowers Alphabet Price Target to $350

DA Davidson analyst Gil Luria lowered the price target on Alphabet (NASDAQ: GOOGL) to $350 (from $375) while maintaining a Neutral rating.

“Alphabet reported another strong quarter headlined by a step up in Y/Y Google cloud growth to 82% vs. 63% last quarter, benefiting from acceleration in core cloud growth and ramping TPU system sales.

Total revenue growth exceeded consensus expectations and accelerated 4 points sequentially as AI momentum proliferates across the product portfolio.

While growth trends were encouraging, capex commentary suggests higher spend for longer with the ’26 guide increasing $15B at the midpoint and management’s reiteration that capex will increase “significantly” in ’27, now off a higher base.”

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