Alphabet Class A (GOOGL) has received a new Buy rating, initiated by Mizuho Securities analyst, Gregg Moskowitz.
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Gregg Moskowitz has given his Buy rating due to a combination of factors that highlight Alphabet’s strategic positioning in the AI-driven advertising and cloud sectors. Alphabet is poised to capitalize on advancements in AI across its advertising platforms, with innovations such as GenAI native app advertising and AI/ML-driven total addressable market expansion. These developments are expected to enhance content quality and user engagement, particularly on platforms like YouTube.
Furthermore, Alphabet’s cloud infrastructure is considered best-in-class, positioning the company to secure business from major players like OpenAI and Anthropic. Although there are potential risks from competitors like OpenAI entering the ad market, Moskowitz believes Google has sufficient time to adapt and strengthen its offerings. The anticipated growth in Google’s revenue, driven by AI advancements and cloud service expansion, supports the optimistic outlook, with expectations of above-consensus revenue growth in the coming years.
Moskowitz covers the Technology sector, focusing on stocks such as Adobe, Salesforce, and Atlassian. According to TipRanks, Moskowitz has an average return of 4.1% and a 53.80% success rate on recommended stocks.
In another report released today, Citizens JMP also reiterated a Buy rating on the stock with a $290.00 price target.