Alphabet Raises Price Target to $415 as Q4 Revenue Tops Forecasts by 2%
Canaccord Genuity raised Alphabet’s price target to $415 from $390 after Q4 revenue topped forecasts by 2%. Gemini reached 750 million monthly users, Cloud revenue jumped 14 percentage points quarter-over-quarter with backlog up 55% to $240 billion, and Gemini Enterprise secured over 8 million paid seats.
1. Price Target Raised After Strong Q4
Canaccord Genuity increased its price target on Alphabet from $390 to $415 following a fourth-quarter revenue beat of 2%, underpinned by continued strength in Search and Google Cloud segments. The upgrade reflects confidence in sustained top-line growth and market share gains across key advertising and enterprise services.
2. AI and Cloud Growth Details
Alphabet’s Gemini app surpassed 750 million monthly active users, showcasing rapid AI adoption across consumer and enterprise markets. Cloud revenue jumped 14 percentage points quarter-over-quarter, backlog climbed 55% to $240 billion, and Gemini Enterprise secured over 8 million paid seats within four months of launch, highlighting strong demand for AI and TPU services.