Alphabet’s Google Announces Additional Workspace Features

Alphabet (GOOGL) subsidiary Google has announced additional Workspace features to enhance the product and make the hybrid work environment feel better. Workspace is Google’s collection of productivity tools that enable people to create documents, communicate, and collaborate.

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The company is introducing Spaces as a single point for organizing projects, topics, and people in Workspace. Spaces will be an improvement on the current Rooms feature.

“Spaces can provide a place to fuel knowledge sharing and community building for teams of all sizes…With the ability to pin messages where everyone can see them, Spaces will play a crucial role in helping people stay connected and informed as hybrid work evolves,” said Javier Soltero, Workspace general manager.

In addition to Spaces, Companion Mode in Google Meet is another feature coming to Workspace. This feature will enable people in the room to seamlessly connect with their remote teammates. The idea behind it is to allow collaboration equity among distributed teams in a hybrid work environment. The Companion Mode in Google Meet feature is coming to mobile soon and to the web in September.

Google has also announced features designed to enhance Workspace’s safety and security. For example, it is allowing Workspace meeting hosts to mute participants so people can stay focused on the meeting. (See Alphabet stock analysis on TipRanks)

Tigress Financial analyst Ivan Feinseth recently reiterated a Strong Buy rating on Alphabet stock and assigned it a 12-month price target of $3,185. Feinseth’s price target implies 30.06% upside potential.

The analyst notes that Alphabet continues to gain from the shift to digital advertising and online spending. Feinseth further observes that growth in the cloud computing business and improving profit margins will continue to drive Alphabet’s stock price higher.

Consensus among analysts is a Strong Buy based on 28 Buys and 2 Holds. The Alphabet average analyst price target of $2,785.97 implies 13.76% upside potential to current levels.

GOOGL scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.