Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) shares were climbing on Friday after the company reported its first-quarter results amid a lot of hype around the AI revolution.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

Goldman Sachs On Alphabet

Analyst Eric Sheridan reiterated a Buy rating while raising the price target from $185 to $195.

Alphabet's first-quarter results reflected higher-than-expected revenues from Search and YouTube, "as Google's broader ad ecosystem benefited from a strong end demand environment and continued to demonstrate product innovation with Performance Max and YT Shorts," Sheridan wrote in a note.

"AI innovation continues to build scale in the advertising business (conversions, Performance Max and search generative experience)," he added.

"Alphabet struck a multi-sided theme of investing for the long-term (highlighted by Q1 capex levels that would be sustained throughout 2024), upside in both Services and Cloud operating income margins as prior period restructuring and cost initiatives demonstrated operating leverage and continued to scale its capital return policy," the analyst stated.

Mizuho Securities On Alphabet

Analyst James Lee maintained a Buy rating while lifting the price target from $170 to $190.

Alphabet's first-quarter results...