10 Stocks with Consistent Growth to Buy

5. Alphabet Inc. (NASDAQ:GOOG)

5-Year Revenue CAGR: 17.23%

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is a leading technology company that is best known for Google, the world’s largest search engine. The company has expanded its business to include a wide range of services and products, such as online advertising, cloud computing, software, and hardware. Alphabet invests heavily in innovative technologies, including artificial intelligence (AI) and autonomous vehicles through its subsidiary Waymo. The company offers a wide range of products and platforms. These include Gmail, Google Search, YouTube, and Google Maps, as well as hardware like Pixel phones and smartwatches.

The company is actively pursuing growth through its innovative strategies and strong performance in various sectors. In Q2 2024, Alphabet Inc. (NASDAQ:GOOG) reported impressive consolidated revenues of $84.7 billion, marking a 14% increase year-over-year. Search was the largest contributor to revenue growth. A significant milestone was achieved with Google Cloud, which surpassed $10 billion in quarterly revenue and generated $1 billion in operating profit for the first time. Alphabet’s investments in artificial intelligence (AI) are paying off, with over 2 million developers utilizing its AI infrastructure and generative AI solutions, further solidifying its position as a leader in the tech industry.

Alphabet Inc. (NASDAQ:GOOG) is also enhancing its core products, such as Google Search and YouTube, by integrating advanced AI features. For instance, the introduction of a Google Search feature, AI Overviews, has improved user satisfaction and engagement, particularly among younger users. YouTube remains the top streaming platform, with views on YouTube Shorts and Connected TVs more than doubling over the past year.

Alphabet Inc. (NASDAQ:GOOG) ranks among the top 5 on our list of stocks with consistent growth to buy. Over the past five years, the company has grown its revenue at a compound annual growth rate (CAGR) of 17.23%, while its net income has increased at a CAGR of 20.33% during the same period.

These achievements and strategic initiatives make GOOG a compelling stock for investors looking for long-term growth potential. Analysts are bullish on Alphabet Inc. (NASDAQ:GOOG) and the 12-month median price target set by analysts indicates a potential upside of 24% from the current stock price.