Alphabet: AI-Driven Search and Gemini Adoption Powering Cloud Growth and Long-Term Upside

William Blair analyst Ralph Schackart has maintained their bullish stance on GOOG stock, giving a Buy rating on January 22.

Ralph Schackart has given his Buy rating due to a combination of factors that underscore Alphabet’s strong AI-driven momentum and operating execution. He highlights that Google Search is seeing record levels of activity, with AI capabilities meaningfully extending user engagement and driving faster growth in search-related revenue. The rapid rollout of AI features such as AI Mode and AI Overviews, underpinned by the new Gemini 3 model, is enhancing the user experience and supporting a sustained increase in query intensity and monetization potential.

Schackart also points to the scaling of Gemini across both consumers and enterprises as a key pillar of his positive view, citing sharp growth in token usage, monthly active users, and rapid adoption of the Gemini 3 Pro model, alongside substantial reductions in model serving costs that improve profitability. On the enterprise side, he notes broad-based uptake of Gemini Enterprise across a large and high-quality customer base, which is driving billions of AI interactions and expanding seat counts. Finally, he emphasizes that Google Cloud is exhibiting powerful growth with accelerating revenue, a very large and expanding backlog, larger and more frequent billion-dollar deals, and surging demand for GenAI-based products, all of which support a favorable long-term growth and earnings outlook for Alphabet Class C shares.

In another report released on January 22, TD Cowen also maintained a Buy rating on the stock with a $355.00 price target.

Based on the recent corporate insider activity of 184 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GOOG in relation to earlier this year.