Alphabet price target raised to $330 from $260 at Needham

Needham raised the firm’s price target on Alphabet (GOOGL) to $330 from $260 and keeps a Buy rating on the shares. The company reported “strong” Q3 as Search revenue grew 15%, Cloud grew 34%, and YouTube grew 15% y/y, the analyst tells investors in a research note. Alphabet’s full-stack GenAI go-to-market gives it pricing power through differentiation, which is driving revenue upside and margin expansion, the firm added.