Citi Raises Alphabet Earnings Outlook and Price Target Ahead of Q1 Results

Aditya Raghunath4 minute read
Reviewed by: Thomas Richmond
Last updated Apr 15, 2026

Key Stats for Alphabet Stock

  • Price change for Alphabet stock Today: 4%
  • $GOOGL Share Price as of Apr. 14: $333
  • 52-Week High: $349
  • $GOOGL Stock Price Target: $376

Now Live: Discover how much upside your favorite stocks could have using TIKR’s new Valuation Model (It’s free)>>>

What Happened?

Alphabet (GOOGL) stock climbed on Tuesday after Citi raised its price target and bumped up Q1 estimates ahead of earnings due April 29.

  • Analyst Ronald Josey raised his price target to $405 from $390, while maintaining a Buy rating.
  • He now expects Q1 revenue and profit to come in above Wall Street’s current forecasts.
  • Specifically, Citi projects search revenue growth of 16.5% year-over-year and cloud revenue growth of 57.5% for the quarter.
  • That cloud number is the headline. Alphabet’s Google Cloud has been accelerating fast.
  • In Q4, cloud revenue grew 48% to $17.7 billion, with operating margin jumping from 17.5% to 30.1% in just one year.
  • A backlog of $240 billion — up 55% in a single quarter — signals there’s plenty of growth still ahead.

The AI integration story is also gaining traction. Over 120,000 enterprises now use Gemini, including major SaaS companies like Salesforce and Shopify.

Search is holding up too, with AI Mode queries doubling since launch and users engaging in longer, more complex sessions.

GOOGL Stock Revenue, EBIT and Free Cash Flow Estimates in Billion USD (TIKR)

Josey also flagged upcoming catalysts. Google Cloud Next in late April and Google I/O in May could both move Alphabet stock if the company rolls out new AI announcements.

Alphabet is planning $175–$185 billion in CapEx for 2026, with most of that spending weighted toward the second half of the year.

See analysts’ growth forecasts and price targets for Alphabet stock (It’s free) >>>

What the Market Is Telling Us About Alphabet Stock

Alphabet stock is very close to its 52-week high, even as the underlying business continues to post strong results.

That gap between performance and price is part of what makes Citi’s upgrade interesting. The stock has been dragged down by broader tech weakness and antitrust concerns, not a deterioration in fundamentals.

GOOGL Stock Valuation Model (TIKR)

With Q1 earnings three weeks away and two major conferences on the horizon, there are several near-term opportunities for Alphabet stock to recover ground.

Estimate a company’s fair value instantly (Free with TIKR) >>>

How Much Upside Does Alphabet Stock Have From Here?

With TIKR’s new Valuation Model tool, you can estimate a stock’s potential share price in under a minute.

All it takes is three simple inputs:

  1. Revenue Growth
  2. Operating Margins
  3. Exit P/E Multiple

If you’re not sure what to enter, TIKR automatically fills in each input using analysts’ consensus estimates, giving you a quick, reliable starting point.

From there, TIKR calculates the potential share price and total returns under Bull, Base, and Bear scenarios so you can quickly see whether a stock looks undervalued or overvalued.

See a stock’s true value in under 60 seconds (Free with TIKR) >>>

Looking for New Opportunities?

Disclaimer:

Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!

Join thousands of investors worldwide who use TIKR to supercharge their investment analysis.

Sign Up for FREENo credit card required