Analysts on Wall Street are upping their price forecasts for Alphabet (GOOGL) stock prior to the tech giant’s Q3 earnings report. Google’s parent company is expected to report its third-quarter earnings after the market closes on Wednesday, October 29. Multiple analysts this week have raised their GOOGL projections, hinting at faith in a better-than-expected earnings report.

Wall Street analyst Mark Shmulik at Bernstein raised his price target from $210 to $260 on GOOGL stock while keeping his Hold rating. Shmulik points to eased regulatory concerns and AI development as key drivers for the price target hike. He also highlighted Gemini’s rise to the top of app store rankings and Google Cloud’s recent success. While this sector remains competitive thanks to OpenAI, Google and Anthropic have seen success together in the form of higher usage.

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Similarly, research analysts at Oppenheimer raised their GOOGL forecast from $270.00 to $300.00 on Monday. This suggests a potential upside of 15% from the current stock price of $254. The firm currently has an “outperform” rating on GOOGL, agreeing with Bernstein that Alphabet’s AI development and cloud computing success. CNN Business surveys suggest GOOGL is a 10/10 stock, with 83% of 75 analysts surveyed suggesting buying GOOGL stock now before earnings. Furthermore, in a report released on October 13, Cantor Fitzgerald also maintained a Hold rating on the stock with a $265.00 price target

Alphabet Class A has an analyst consensus of Strong Buy, with a price target consensus of $261.40, which is a 3.8% upside from current levels. GOOGL is trading near the top of its 52-week range and above its 200-day simple moving average.