TECH - 'Put It In The Louvre:' Tech Bull Praises Google Parent Alphabet's 'Major Breakout Quarter' Says It Is 'Now In The Party' | Benzinga
Wedbush's Dan Ives heaped praise on Google‘s parent Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) after the company beat revenue and earnings per share (EPS) estimates in its March 2024 quarter results.
What Happened: Ives expressed his admiration for Google following the company’s Q1 earnings, where it declared its first-ever dividend.
In an interview with CNBC, Ives described the results as “a quarter they should frame and put in the Louvre,” adding that he sees nothing negative in the report.
He also highlighted the positive implications for near-term growth and margin, as well as the management’s comments on search generative experience (SGE,) which should ease long-term investor concerns.
He concluded by noting that the AI and cloud story is now unfolding and increased the price target for Google to $205 from $175.