"Wedbush raised the firm's price target on Alphabet () () to $320 from $245 and keeps an Outperform rating on the shares. The firm notes Alphabet reported strong Q3 results across all segments. Revenue of $102.3B exceeded Street expectations for the quarter by about 2%, led by strong advertising trends and improving Cloud momentum. Google Search and YouTube delivered revenue growth in Q3 of +14.5% year-over-year and +15.0% year-over-year, respectively, with both segments exceeding expectations by 300bps."
"Revenue of $102.3B exceeded Street expectations for the quarter by about 2%, led by strong advertising trends and improving Cloud momentum. Google Search and YouTube delivered revenue growth in Q3 of +14.5% year-over-year and +15.0% year-over-year, respectively, with both segments exceeding expectations by 300bps."
Wedbush raised the firm's price target on Alphabet to $320 from $245 and maintained an Outperform rating. Alphabet reported Q3 revenue of $102.3 billion, exceeding Street expectations by about 2%. Revenue strength was led by robust advertising trends and improving Cloud momentum. Google Search revenue grew 14.5% year-over-year and YouTube revenue grew 15.0% year-over-year, with both segments beating expectations by roughly 300 basis points. Strong results were recorded across all segments, with advertising strength and accelerating Cloud performance identified as the primary contributors to the quarterly beat.
Read at TipRanks Financial
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