- Google (GOOG, Financial) responds to claims from Apple, reaffirming growth in search traffic.
- Analysts predict strong upside potential for GOOG stock with a target price of $202.50.
- Current consensus among brokerage firms rates Google as "Outperform."
Google (GOOG) observed a 1.7% increase in its share value during premarket trading. This uptick followed a strategic response to Apple executive Eddy Cue's comments regarding a potential downturn in search traffic. Google highlighted continuous growth in search queries, largely fueled by interactions via Apple's devices, which helped alleviate earlier market concerns impacting GOOG's valuation.
Wall Street Analysts Forecast
According to insights from 18 Wall Street analysts, Alphabet Inc (GOOG, Financial) is projected to reach an average target price of $202.50 over the next year. The price targets vary, with the highest estimate at $225.00 and the lowest at $185.00, suggesting a significant upside of 32.53% from its current price of $152.80. Investors can explore more detailed data on the Alphabet Inc (GOOG) Forecast page.
The consensus recommendation from 22 brokerage firms leans towards an "Outperform" rating for Alphabet Inc (GOOG, Financial), achieving an average brokerage recommendation of 1.6. This rating is based on a scale where 1 indicates a Strong Buy, and 5 suggests a Sell.
Additionally, GuruFocus estimates project the GF Value for Alphabet Inc (GOOG, Financial) at $197.61 in the coming year. This forecast translates to an upside of 29.33% from its current trading price of $152.80. The GF Value considers various factors, including historical stock multiples, past business growth, and future business performance estimates. For further insights, visit the Alphabet Inc (GOOG) Summary page.
