Alphabet Shares Up 70.5% After Q3 Beats, Roth/MKM Targets $395
Alphabet shares gained 70.5% over the past year and are flat year-to-date, as Citizens held a Market Outperform with a $385 target and Roth/MKM lifted its target to $395 after Q3 beats in search, cloud and subscriptions. Jim Cramer highlighted strong backlog and AI-driven cloud performance.
1. Strong Stock Performance
Alphabet’s shares jumped 70.5% over the past year and remain flat year-to-date, driven by investor confidence in its AI initiatives and cloud expansion.
2. Q3 Beats Across Divisions
The company beat Q3 estimates in its core search advertising, cloud computing revenue and subscription services, highlighting diversified growth.
3. Analyst Price Targets
Citizens maintained a Market Outperform rating with a $385 price target, while Roth/MKM raised its target to $395 and reaffirmed a Buy rating.
4. Jim Cramer’s Bullish Take
Jim Cramer praised Alphabet’s strong backlog and “on fire” cloud performance, emphasizing AI-driven addressable market growth through the Gemini platform and calling the valuation “just awesome.”