After recently attending Alphabet Inc’s (NASDAQ:GOOGL) Google event for local business that gave an overview for the future of next-gen Google Maps, top analyst Colin Sebastian at Baird, who notes that “Google Maps is already a ‘killer app,'” remains bullish on Alphabet’s revenue prospects. Therefore, Sebastian reiterates an Outperform rating on GOOGL with a $930 price target, which represents just under a 16% increase from current levels.

From the analyst’s eyes, “To-date, Google Maps is one of the most successful applications geared specifically to handle local search, with more than one billion active users, and 92 countries fully mapped via street-view. To illustrate the importance of Maps, 60% of Google search queries already incorporate some form of local intent, while location-related searches are growing 50 percent faster than mobile searches overall.”

Additionally, the analyst highlights local advertising as a massive and yet presently “untapped” monetization platform, as currently “like most of Google’s products, Maps is free for consumers to use.” Yet, moving forward, as Alphabet dives into prospective “pools of revenue” potential, Sebastian keeps his eyes peeled to the rise of rivalry from competitors including Yelp, TripAdvisor, Groupon, Angie’sList, and GrubHub.

Overall, “We believe that Maps is one of the company’s most valuable assets that demonstrate the company’s strong product and engineering skill-set. We estimate Maps will grow into a $5 billion incremental revenue business over the next 3-4 years, contributing as much as one-third of the company’s advertising growth by 2020,” Sebastian contends.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, top five-star analyst Colin Sebastian has achieved a high ranking of #17 out of 4,162 analysts. Sebastian upholds a 69% success rate and garners 13.9% in his annual returns. When recommending GOOGL, Sebastian realizes 14.9% in average profits on the stock.

TipRanks analytics exhibit GOOGL as a Strong Buy. Based on 28 analysts polled in the last 3 months, 27 rate a Buy on GOOGL, while 1 issues a Sell. The 12-month price target stands at $965.40, marking a 20% upside from where the shares last closed.