Goldman Sachs reiterates Buy rating on Alphabet with $450 price target, citing AI progress across Search, YouTube, Gmail, and other services.

On May 21, Goldman Sachs reiterated its Buy rating on Alphabet Inc. (NASDAQ:GOOGL) with a price target of $450. Analyst Eric Sheridan highlighted the company's progress in AI following Google I/O 2026, Google Marketing Live, YouTube Brandcast, and The Android Show.

Alphabet showcased new products, services, and features across Search, YouTube, Gmail, Maps, Workspace, Google Cloud, Android, Pixel, and Gemini. The company is working to integrate Gemini AI capabilities across consumer and enterprise services.

Goldman Sachs noted that investors continue to discuss the level of spending required and return on spend through the company's core advertising and cloud businesses, and pointed to concerns about the search advertising business in an increasingly agentic-driven consumer compute environment.