5 Best Machine Learning Stocks To Invest In

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG) is the owner and operator of one of the three biggest cloud platforms in the world, the Google Cloud Platform, and is one of the best machine learning stocks to buy now. Alphabet Inc.’s (NASDAQ:GOOG) cloud platform provides machine learning developers with various services including pre-trained models, datasets, and machine learning libraries, through which developers can build, test, and deploy their custom models.

Wall Street sees upside to Alphabet Inc. (NASDAQ:GOOG). This August, Tigress Financial analyst Ivan Feinseth raised his price target on Alphabet Inc. (NASDAQ:GOOG) to $186 from $183 and maintained a Strong Buy rating on the shares. Over the past three months, Alphabet Inc. (NASDAQ:GOOG) has received 10 Buy ratings from Wall Street analysts and has a consensus Strong Buy rating. The stock’s median price target of $145 represents an upside of 51% from current levels.

At the end of Q2 2022, 153 hedge funds disclosed ownership of stakes in Alphabet Inc. (NASDAQ:GOOG). The total value of these stakes amounted to $22.29 billion. As of June 30, TCI Fund Management owns more than 2.4 million shares of Alphabet Inc. (NASDAQ:GOOG) and is the largest shareholder in the company.

Here is what Lakehouse Capital had to say about Alphabet Inc. (NASDAQ:GOOG) in its second-quarter 2022 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) reported another strong quarterly result despite the tough macroeconomic conditions. Revenue increased by 13% as Search proved resilient, primarily led by strength in the travel and retail verticals. YouTube advertising growth was lighter and moderated due to a tough comparison period and a general softening in brand advertising spend. That said, YouTube’s user engagement and time spent still continues to grow which bodes well for future monetisation opportunities. Google Cloud outpaced the company’s overall growth with revenue increasing by 36% and while it has yet to show any signs of profitability, we remain supportive of Alphabet continuing to reinvest in its cloud business given the size of the market opportunity ahead. On the cost front, the company added another 10,000 employees during the quarter, but notably, the CFO mentioned that hiring will likely slow down over the next twelve months as the company focuses on greater operating efficiency. Overall, we’re pleased with how the company has performed and are confident that management will be able to control costs, if or when the economic environment becomes more challenging.”