Google's stock is reaching new highs - here's what Wall Street is saying about the blockbuster quarter

Chris Hondros/Getty ImagesAlphabet CEO Larry Page.Alphabet's market cap swelled to more than $630 billion on Friday following the Google parent company's better-than-expected Q1 results a day earlier.

In addition to growth in advertising revenues, the "other revenue" category saw significant growth in Q1, up 49%, as the company seeks to diversify how it makes money beyond digital ads. Most of those revenues come from Google's cloud services and hardware, like the Pixel phone and Google Home speaker.

As Alphabet's stock rose above $900 on Friday, analysts boosted their price targets and heaped praise on Google's growing collection of money-making products and its ability to maintain solid profit margins even as it spends heavily to beat the competition.

Here's what analysts are saying about Alphabet, in reaction to the earnings report:

Get the latest Google stock price here.