(GOOG) stock has risen 73.0% over the past year, even though it slipped 4.8% in the last week and 2.5% over the past month. Wall Street’s analysts are strongly bullish, with a StrongBuy consensus and a 12‑month price target of $384.18, suggesting meaningful upside from the last close at $324.40.
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Analyst Doug Anmuth of J.P. Morgan reiterated his Buy rating on Alphabet Class C on February 9, 2026, setting a price target of $395.00. That target implies further potential gains as he continues to call Alphabet his top pick among the major internet names.
Anmuth notes that Alphabet’s latest earnings showed strong operating momentum, with Search revenue growth accelerating to 17% and Google Cloud ramping 48%. He also points to a huge revenue backlog that surged 55% quarter over quarter to about $240 billion, nearly matching Amazon Web Services’ backlog.
The analyst acknowledges investors’ concerns about Alphabet’s massive planned capital spending of $175–$185 billion in 2026, roughly double 2025 levels, and a sharp drop in modeled free cash flow. Still, he argues these investments are made from a position of strength, backed by Gemini’s 750 million monthly active users and a growing AI‑driven advertising opportunity.
Anmuth values Alphabet at roughly 29 times his 2027 GAAP EPS estimate of $13.51, seeing multiple levers in Search, Cloud, and AI to support future revenue and margin expansion. This 4‑star analyst ranks 383 out of 12,061 on TipRanks, with a 57.93% success rate and an average return of 16.40% per rating; never miss a stock rating and find all the latest ratings on TipRanks’ Top Wall Street Analysts page.