Editor’s Note: This article has been updated to reflect that Alphabet will report first-quarter earnings on Thursday.

Alphabet Inc GOOGL GOOG is scheduled to announce its first-quarter earnings on Thursday, with Wall Street anticipating earnings per share (EPS) of $2.02 and revenues of $88.87 billion. This update will be provided after market hours.

Over the past year, the stock has declined by 2.38%, with a more significant drop of 17.99% year-to-date.

Analyzing current market conditions, let’s explore what the charts reveal about Alphabet’s stock and how it compares to Wall Street’s estimates.

Market Dynamics: Alphabet’s Stock Shows Mixed Signals Ahead of Q1 Earnings

Chart created using Benzinga Pro

As of now, Alphabet’s stock trades at $155.30, indicating a struggle between short-term bullish indicators and a longer-term bearish trend. The stock is currently positioned just above its eight-day and 20-day simple moving averages (SMAs) of $153.71 and $153.57—bullish signs suggesting that buyers are entering the market ahead of earnings.

In contrast, the broader trend reflects a more cautious outlook. The stock remains well below its 50-day and 200-day SMAs at $164.54 and $172.41, respectively, signaling that overall market sentiment has not yet improved.

Moreover, the MACD (Moving Average Convergence Divergence) stands at a negative 3.25, supporting a bearish sentiment. The Relative Strength Index (RSI) rests at 47.63, which is neutral—signifying that the stock is neither oversold nor overbought.

For investors, this earnings announcement represents a pivotal moment. A positive report, coupled with strong commentary regarding the $75 billion AI infrastructure investment, could signal a shift in longer-term trends. Conversely, a failure to address ongoing legal concerns—especially regarding potential restructuring of its advertising business after an antitrust ruling—could lead to further declines.

Analysts Project Significant Upside for Alphabet Stock

Ratings & Consensus Estimates: The consensus rating for Alphabet’s stock is currently “Buy,” with an average price target of $197.83. Recent analyst updates from Stifel, RBC Capital, and Morgan Stanley suggest a target of $192.33, indicating an upside potential of approximately 23.85% from current levels.

Price Action: At the time of publication on Thursday, Alphabet’s stock was up 2%, trading at $160.96.

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