Five Wall Street Firms Lower Google Price Target Following Crash
Five major Wall Street firms lowered their price targets for Google following a sharp market crash that saw shares plunge 13 percent and erase $500 billion in market capitalization amid artificial intelligence bubble concerns.
Shares of Alphabet, trading under the ticker NASDAQ: GOOG, experienced a sharp downturn on Thursday, plummeting 40 points and losing nearly 13% amid heavy selling pressure. GOOG dropped to $282, bringing it close to its March 2026 lows of $273—a level initially reached when the conflict between the US and Israel began earlier this year. Following this significant market drop, five major Wall Street firms have revised their price targets for Google stock downward.
Major financial institutions on Wall Street are adopting a more cautious and bearish outlook on Google shares. Concerns regarding an artificial intelligence bubble have intensified following the tech giant’s $9 billion cash burn. Numerous analysts have even characterized the sell-off as “Alphabet’s worst day ever.” Compounding these challenges, Bank of America reaffirmed its valuation of Google search at a multiple lower than that of fossil fuel stocks. Thursday’s market collapse erased approximately $500 billion in market capitalization, drawing intense scrutiny toward GOOG.
Also Read: Microsoft Layoffs: 60,000 Employees Offered Voluntary Buyouts
Google Stock: Wall Street Firms Lower Price Target
The five Wall Street institutions that reduced their price targets for Google stock are JP Morgan, DA Davidson, Truist Financial, Wedbush, and Susquehanna. The specific adjustments made by each firm are detailed below.
JP Morgan: Reduced the Google stock price target by $50. Analyst Doug Anmuth adjusted his previous target of $425 down to $375 following the crash.
DA Davidson: Five-star-rated analyst Gil Luria also lowered the Google stock price target by $50, moving his previous target of $350 down to $300.
Wedbush: Analyst Ygal Arounian decreased the GOOG target by $58, cutting it from a prior forecast of $445 down to $387.
Truist Financial: Strategist Youssef Squali made the smallest adjustment, lowering the GOOG target by $10 from a previous projection of $420 down to $410.
Susquehanna: Analyst Shyam Patil implemented the largest reduction, cutting the GOOG target by $60 from a previous target of $460 down to $400.
Short FAQs
How much did Google stock fall during Thursday’s crash?
Google stock dropped 40 points, shedding nearly 13% and falling to $282 per share.
How much market value did Google lose in the sell-off?
The crash wiped out approximately $500 billion in market value.
Which Wall Street firms lowered their price targets for GOOG?
The five firms are JP Morgan, DA Davidson, Wedbush, Truist Financial, and Susquehanna.
Who made the largest price target reduction?
Susquehanna analyst Shyam Patil made the highest reduction, cutting the target by $60 from $460 to $400.
