Pivotal Research raised its Google (NASDAQ: GOOGL) stock price target from $420 to a Street-high $470 on Wednesday, April 29, while keeping a ‘Buy’ rating.
The upgrade follows a strong first-quarter report, in which search revenue expanded 19% year-over-year, topping the firm’s 15% forecast. Cloud growth was especially noteworthy, rising 63% for the fourth consecutive quarter, well above Pivotal’s 48% estimate.
Other segments contributed as well. For example, subscriptions and devices revenue was up 19% during the quarter, prompting Pivotal to raise its forward estimates for both search and cloud revenue.
Moreover, Pivotal analysts also increased their capital expenditure outlook, adding $10 billion to their 2026 guidance tied to the Intersect acquisition and increasing spending projections for 2027 and beyond.
Google stock is currently up 5.73% in pre-market trading, sitting at $370. Based on the last closing price of $349.94, the new $470 price target implies a 34% upside.
Is Google stock a buy?
Alphabet reported total revenue of $109.9 billion for the past quarter, up 22% year-over-year, while net revenue reached $95 billion, up 24%. Operating income came in at $40 billion with a 42% margin, also ahead of expectations. As mentioned, the cloud division was especially positive, with revenue climbing 63% to $20 billion.
Following the results, multiple firms revised their outlooks on Google share. Notably, Goldman Sachs raised its price target from $400 to $450, citing renewed strength in search growth, while KeyBanc lifted its target from $380 to $425 on strong cloud momentum.
At the same time, RBC Capital moved its target from $400 to $425, maintaining a ‘Buy’ rating, while DA Davidson set a new $375 target, pointing to continued revenue acceleration. Meanwhile, William Blair reiterated its ‘Outperform’ rating, noting growing investor confidence in Alphabet’s capital spending discipline and long-term artificial intelligence (AI) strategy.
As of press time, Google shares are, on average, in the ‘Strong Buy’ category, according to Wall Street analyses tracked and aggregated by the market research platform TipRanks.
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