William Blair analyst Ralph Schackart has maintained their bullish stance on GOOG stock, giving a Buy rating on April 22.
Ralph Schackart has given his Buy rating due to a combination of factors that highlight Alphabet’s strong performance and growth potential. The company’s search segment is experiencing robust growth, significantly driven by advancements in AI, which have enhanced user engagement and expanded the reach of search functionalities. The introduction of AI mode for complex searches and the increase in multi-modal queries are contributing positively to this growth.
Additionally, Alphabet’s cloud segment is showing impressive growth, particularly in its core and AI products, outpacing overall cloud growth. The company’s financial strategies, including a 5% increase in dividends and a substantial share repurchase authorization, further strengthen its financial position. These elements collectively suggest a promising outlook for Alphabet, justifying the Buy rating.
In another report released on April 22, J.P. Morgan also maintained a Buy rating on the stock with a $180.00 price target.