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Model sees Alphabet stock rising above $500 as cloud backlog hits $514B, despite current price lagging peers.

Analyst Insights
07 Oct 2026
24/7 Wall Street
View Source
Bullish
Model sees Alphabet stock rising above $500 as cloud backlog hits $514B, despite current price lagging peers.

Alphabet's stock trades at $340.35, about 15% below its 52-week high, while its cloud backlog has surged to $514 billion, signaling strong future revenue. The company's Q2 revenue rose 24.2%, with Google Cloud growing 82%, yet Alphabet trades at a lower price-to-earnings ratio than peers like Microsoft and Amazon. Our model sets a 12-month price target of $434.48 and projects the stock could exceed $500 by 2028, driven by cloud growth and the Gemini app's user base. Risks include high capital expenditures and increased debt, but the growth outlook supports current spending and a buy recommendation with 70% confidence.

As of Oct 07, 2026 23:12 WIB, Alphabet's stock trades on Pluang at USD 343.18, slightly below the article's noted price of $340.35, with a 1-day change of -0.41%. The stock's market cap stands at $4.24 trillion, reflecting its significant scale in the media sector. Despite the article's bullish outlook, Pluang order activity shows a majority of 66% sell orders compared to 34% buy, highlighting mixed investor sentiment.

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