In this article TNL NOW GOOGL Follow your favorite stocks CREATE FREE ACCOUNT Google headquarters in Mountain View, California, on Jan. 30, 2023. Marlena Sloss | Bloomberg | Getty Images Earnings season is in full swing, with results from tech giants and sector leaders influencing the market's direction.
While these updates provide key insights into a company's performance, investors should remember their investment decisions must not be based on a single quarter's results. Instead, they should consider the recommendations of top Wall Street analysts, who perform an in-depth analysis of a company's fundamentals so they can highlight stocks with solid long-term growth potential. Here are three stocks favored by the Street's top pros , according to TipRanks, a platform that ranks analysts based on their past performance.
Alphabet The first stock pick for this week is Google parent Alphabet ( GOOGL ). The company recently reported results for the second quarter , highlighting the strength in its Search and Cloud businesses. However, the growth in YouTube advertising revenue slowed down in the quarter and missed analysts' expectations.
Following the results, BMO Capital analyst Brian Pitz reiterated a buy rating on GOOGL stock with a price target of $222. The stock remains a top pick for BMO. Pitz noted artificial intelligence-related tail winds in Alphabet's Search business.
He said, "The combination of higher query volume and lower incremental costs implies that AI benefits to .