Alphabet Inc. (NASDAQ:GOOGL) is one of the Hot AI Stocks to Keep on Your Radar. On January 13, Truist Securities analyst Youssef Squali reiterated a Buy rating on the stock with a $350.00 price target. The rating affirmation comes ahead of the tech giant’s fourth-quarter earnings report scheduled for February 4.
Despite an increase in generative AI competitors, firm analysts expect Alphabet to demonstrate robust search momentum. They project 15%+ top-line growth, aligning with consensus estimates. Both query volume and cost-per-click metrics have led to robust search spending.
The tech giant is expected to deliver robust fourth-quarter results, driven by robust engagement and advertising demand, which translates into mid-teens growth across Search and YouTube. Meanwhile, solid Cloud backlog is likely to generate 34% revenue growth in that segment.
The firm cited the November rollout of Gemini 3 as another catalyst for Alphabet, positioning the company at the forefront of AI performance. Recent data also suggests continued gains in Search market share.
Overall, Truist remains bullish on Alphabet’s competitive moat despite increasing competition in the generative AI space.
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.
While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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