NEW YORK (TheStreet) -- Alphabet's (GOOGL) - Get Free ReportGoogle unit is currently the front-runner to acquire payment technology platform PayPal (PYPL) as a client for its cloud business, according to sources cited by CNBC.
PayPal has not made any final decisions and is still evaluating other providers.
Additionally, the San Jose-based company is unlikely to move its technology infrastructure in the peak fourth quarter for e-commerce, sources told CNBC.
Under the guidance of Senior VP Diane Greene, the cofounder of VMWare (VMW), Google's cloud business has been looking to catch up to competitors Amazon.com (AMZN) and Microsoft (MSFT).
Google has been cutting prices in the past year as a way to attract big enterprises like PayPal, CNBC reports.
Shares of Alphabet were lower in early afternoon trading on Tuesday.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: GOOGL