Analysts at major shops on Wall Street are optimistic after Google-parent Alphabet's second-quarter earnings beat.
Google-parent Alphabet posted strong second-quarter numbers that had many Wall Street analysts gushing. The company reported a 7% year-over-year revenue increase to $74.6 billion alongside adjusted earnings per share of $1.44. Analysts polled by Refinitiv forecasted $1.34 per share and $72.82 billion in revenue. A key driver for those results was Google Cloud, which saw revenue surge 28% year over year to $8.03 billion. That's above a StreetAccount forecast of $7.87 billion.
mountain GOOGL pops after earnings Morgan Stanley's Brian Nowak increased his price target on Alphabet stock to $155 per share, or roughly 27% upside, and reiterated an overweight rating. Nowak highlighted the strong growth in Google's Cloud segment which could help add to the premium price on the stock.
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