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Investing.com - BMO Capital has raised its price target on Alphabet (NASDAQ:GOOGL) stock to $340.00 from $294.00 while maintaining an Outperform rating following the company’s third-quarter 2025 results. The tech giant, currently trading at $275.17, is approaching its 52-week high of $275.97 and has delivered impressive returns of 56.91% over the past year.
The research firm cited "impressive" quarterly performance with consensus revenue beats across core segments, including Search (3% above estimates), YouTube (2% above), and Google Cloud (3% above estimates). InvestingPro data shows Alphabet’s overall revenue reached $371.4 billion with 13.13% growth, supporting its $3.32 trillion market capitalization.
Search growth continues to benefit from AI-driven product enhancements, which are driving meaningful query growth and supporting 7% growth in both Paid Clicks and Cost-Per-Click, according to BMO Capital.
Google Cloud showed accelerating growth of 34% with a 43% quarter-over-quarter increase in backlog, which BMO Capital believes sets the stage for continued momentum.
BMO Capital has raised its 2025 and 2026 capital expenditure estimates to $93 billion and $138 billion respectively, up from previous estimates of $86 billion and $97 billion, as Alphabet "meaningfully leans into the AI opportunity." Despite trading at a P/E ratio of 26.14, InvestingPro analysis indicates the stock is attractively valued relative to growth with a PEG ratio of 0.77. For deeper insights on Alphabet’s financial health (rated "GREAT" by InvestingPro) and 18 additional ProTips, check out the comprehensive Pro Research Report available for this tech leader.
In other recent news, Alphabet Inc. reported impressive financial results for the third quarter of 2025. The company achieved earnings per share (EPS) of $2.87, surpassing analysts’ expectations of $2.29, marking a significant surprise of 25.33%. Revenue also exceeded projections, reaching $102.3 billion against the anticipated $99.79 billion. These results highlight Alphabet’s strong performance in the recent quarter. Additionally, the company’s stock experienced a notable increase following the announcement. While the earnings and revenue figures were the most significant updates, no major mergers or acquisitions were reported. There were also no analyst upgrades or downgrades mentioned in the recent developments.
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