Wedbush's optimistic outlook on Alphabet Inc. (GOOGL) has been bolstered by expectations of continued growth in its Cloud segment and potential cost optimizations under the new CFO. The firm's "Outperform" rating and a 12-month price target of $220 reflect confidence in Alphabet's ability to capitalize on strong digital advertising demand, particularly in Search and YouTube, despite facing FX headwinds and challenging comparisons. The anticipated growth in the Cloud segment, driven by AI-driven solutions, is a key factor in this positive sentiment, with a reported 30% increase in product adoption among existing customers. This robust outlook has likely contributed to the positive movement in Alphabet's stock price.
The Direxion Daily GOOGL Bull 1.5X Shares (GGLL) ETF saw a modest increase, rising 0.73% to $51.07 as of 6:00 AM on Friday, January 31.