Google Analysts See Upside For Alphabet Stock Following Q2 Earnings As Generative AI Drives Accelerated Search Growth
Portfolio Pulse from Adam Eckert
Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL) reported strong Q2 earnings with revenue of $84.742 billion and earnings of $1.89 per share, beating analyst estimates. Analysts remain positive on the stock, highlighting the impact of generative AI on Search and Cloud growth. Despite a 4.52% drop in stock price, analysts from BMO Capital Markets, RBC Capital Markets, and JMP Securities maintained Outperform ratings and raised price targets, citing sustainable growth and cost efficiencies driven by AI.
July 24, 2024 | 5:17 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Alphabet Inc. reported strong Q2 earnings, driven by AI-related growth in Search and Cloud. Despite a 4.52% drop in stock price, analysts maintain positive ratings and raise price targets, indicating confidence in sustainable growth and cost efficiencies.
The strong Q2 earnings report, driven by AI-related growth in Search and Cloud, has led analysts to maintain positive ratings and raise price targets. This suggests a positive short-term impact on the stock price despite the recent drop.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Alphabet Inc. reported strong Q2 earnings, driven by AI-related growth in Search and Cloud. Despite a 4.52% drop in stock price, analysts maintain positive ratings and raise price targets, indicating confidence in sustainable growth and cost efficiencies.
The strong Q2 earnings report, driven by AI-related growth in Search and Cloud, has led analysts to maintain positive ratings and raise price targets. This suggests a positive short-term impact on the stock price despite the recent drop.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100