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Investing.com - JMP Securities has reiterated its Market Outperform rating and $225.00 price target on Alphabet (NASDAQ:GOOGL) stock, citing improvements to the company’s AI Mode feature. The stock currently trades at $206.09, near its 52-week high, with InvestingPro data showing strong financial health metrics.
The research firm highlighted that AI Mode now delivers personalized responses based on users’ conversation history and past searches, potentially creating a more relevant search experience.
JMP noted that by leveraging Google’s existing data resources, the company may be able to provide more tailored results to users compared to competitors.
The firm suggested that this personalization feature could create switching costs for users over time, as their search and conversation history becomes integrated with Google’s AI systems.
JMP indicated it continues to evaluate potential competitive advantages in AI beyond brand preference and distribution, with personalized history potentially serving as one such advantage for Google.
In other recent news, Google has entered into an agreement with the United States government to provide artificial intelligence and cloud services to federal agencies. This initiative, known as "Gemini for government," is designed to enhance AI adoption across government operations. In a separate development, Google introduced its Pixel 10 smartphone series, equipped with advanced on-device AI capabilities powered by the new Google Tensor G5 chip. The series includes models such as the Pixel 10 Pro and Pixel 10 Pro Fold, all featuring the Gemini AI to improve user experience.
Additionally, Stifel has reiterated its Buy rating on Alphabet stock, setting a price target of $222. This follows Google’s recent event where they showcased the integration of Gemini AI into various platforms, including cars and smart home devices. Meanwhile, Bernstein has maintained a Market Perform rating for Alphabet, with a price target of $185, drawing comparisons to past technology platform shifts. BMO Capital also reiterated its Outperform rating with a $225 price target, as Alphabet awaits a significant antitrust ruling. The U.S. District Court previously found Google guilty of maintaining a search monopoly through exclusionary agreements.
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