Google Cloud and Whirlpool Bolster Partnership
) has settled on Alphabet’s (GOOGL
) Google Cloud as its preferred cloud platform to enhance the delivery of “critical business systems and applications” worldwide. The cloud partnership builds on a strategic alliance that began in 2014 with Whirlpool rolling out Google Workspace to its employees.
As part of the expanded collaboration, Whirlpool has deployed its company-wide applications and SAP environment on Google Cloud.
The cloud giant will also offer Whirlpool cloud capabilities powered by artificial intelligence (AI) and machine learning, ideal for enhancing its digital revolution. (See Alphabet stock analysis
“Whirlpool Corp. is creating a foundation for future growth with a forward-looking, cloud-first approach to its critical SAP systems, while maintaining a strong commitment to sustainability… We’re proud to expand our strategic collaboration with Whirlpool and will continue to support the company’s digital transformation across all of its global operations,” said Google Cloud’s President Rob Enslin
Whirlpool settled on Google Cloud because it is the cleanest in the industry, running 100% on renewable energy. (See Whirlpool stock analysis
On May 10, Citigroup analyst Jason Bazinet
downgraded the stock to a Hold from a Buy. The analyst has a $2,415 price target on the stock implying 2.87% upside potential to current levels.
Bazinet told investors that looking ahead, he has three main concerns about the stock. “First, among the top 10 Internet ad firms, in absolute dollar terms, sell side expects ~2x the annual growth from ’21 to ’25 versus ’18 to ’20. Second, many investors believe ad intensity per dollar of economic activity is rising. We see little evidence of this. Third, even if the sell side estimates are right, growth will likely decelerate after 2Q21 (on tougher comps). Historically, that usually isn’t bullish for multiples.”
Consensus among analysts is a Strong Buy based on 27 Buys and 2 Holds. The average analyst price target of $2,785.97
implies 18.67% upside potential to current levels.
GOOGL scores an 8 out of 10 on TipRanks’ Smart Score
tool, indicating that the stock has strong potential to outperform market expectations.
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