Alphabet’s Wiz acquisition a ‘significant event’, says Roth MKM

Roth MKM keeps a Buy rating and $220 price target on Alphabet (GOOGL) after the company’s $32B Wiz acquisition – the largest in Google’s history and surpassing its previous $12.5B purchase of Motorola Mobility. Wiz is expected to hit $1B in annual recurring revenue in 2025, and the deal represent a significant event ahead of potentially rising competition in AI cloud as cybersecurity offerings become mandatory “table stakes” for hyperscalers to secure both human and machine data and workloads, the analyst tells investors in a research note.