Alphabet Inc. (NASDAQ:GOOGL) is one of the best ESG stocks to buy now according to hedge funds. On September 10, Goldman Sachs analyst Eric Sheridan maintained a Buy rating on Alphabet Inc. (NASDAQ:GOOGL) with an unchanged price target of $234.
Photo by Karollyne Videira Hubert on Unspl
Sheridan highlighted Alphabet’s strength in cloud and AI as central to its growth outlook. He argues that enterprises are increasingly adopting AI-based cloud tools to bolster their workflows, and the company should be able to capitalize on this demand through its wide portfolio of cloud services. This demand thus indicates a growing migration pipeline, implying strong growth for Alphabet Inc..
The analyst also emphasized the company’s scalable, cost-efficient AI systems and diversified revenue base, with 13 product lines each generating more than $1 billion annually.
The analyst also believes that Alphabet Inc.’s efforts to broaden enterprise access to a broad portfolio of AI models reinforce its positioning as a long-term growth leader in large-cap tech.
Alphabet Inc. is the parent company of Google and a pioneer in internet-related services and products, including online advertising technologies, search engines, cloud computing, software, and hardware.
READ NEXT: Best Stocks For Day Trading: 12 Stock Picks and 15 Best Multibagger Stocks to Invest in Right Now.
This article is originally published at Insider Monkey.
