For deeper insights into Alphabet's valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which offers 12 additional ProTips and extensive financial metrics. In other recent news, Alphabet Inc. reported first-quarter results that exceeded expectations, with advertising revenue climbing 8.5% to $66.89 billion, surpassing analysts' forecasts. This strong performance in Alphabet's advertising business, driven by investments in artificial intelligence, has positively impacted social media stocks, with Meta Platforms (NASDAQ: META ) and Pinterest (NYSE: PINS ) seeing significant rises. Citi analysts raised Alphabet's price target to $200 from $195, citing resilience in search ads and advancements in AI as key growth drivers. Meanwhile, Rosenblatt Securities adjusted Alphabet's price target down to $189 from $205, maintaining a Neutral rating due to concerns over macroeconomic risks and legal challenges.