Having weathered the early 2026 technology sector sell-off with just a 2.79% year-to-date (YTD) decline to the March 10 press time price of $305.04, Google (NASDAQ: GOOGL) stock appears to be on the mend.
Specifically, Friday, March 6, proved a turning point as GOOGL shares halted the steady decline started at the end of February and rallied nearly 3% by Tuesday morning.
Google stock price one-month chart. Source: FinboldJPMorgan’s (NYSE: JPM) Doug Anmuth seemingly reacted to the shift already on Monday as he confirmed the banking giant sees Google as a ‘Buy,’ while reiterating the previous 12-month price target of $395.
When the 29.49% rally forecast for GOOGL stock was initially assigned in early February, it represented a positive reaction to Alphabet’s strong earnings report, since, prior to the report, JPM’s prediction stood at $385.
It also presented a show of confidence that the company will benefit in the long run from its plans to double the expenditure on various capital projects, including the data centers critical for the further proliferation of artificial intelligence (AI).
Wall Street sets Google stock price target for the next 12 months
Zooming out, it is evident that Wall Street is, in general, optimistic about the technology giant. For example, Google stock is overall rated as a ‘Strong Buy’ and is, on average, expected to rally 22.92% to $376.57, per the data Finbold retrieved from TipRanks on March 10.
Wall Street sets Google stock price target for the next 12 months. Source: TipRanksAdditionally, every revision made by analysts since March started has confirmed that GOOGL shares are considered a ‘Buy,’ though, notably, there have also been several price target downgrades.
On the first day of the month, Goldman Sachs (NYSE: GS) tempered its prediction by decreasing it from $400 to $312, and four days later, Mizuho Securities also gave a downgrade from $410 to $303.13.
Featured image via Shutterstock
Source: https://finbold.com/wall-street-analyst-updates-google-stock-price-target-for-next-12-months/
