Piper Sandler’s Latest Price Target For Google Stock

Alphabet’s Google stock (NASDAQ: GOOG) opened Monday’s trading session at $341. The search giant remains range-bound in the indices, delivering little to no profits. Prices have stagnated this month and slide back to the $330 level every time after reaching the $350 zone. The development is testing the patience of investors, as GOOG has experienced no price spurts recently. All of these are mostly keeping retail investors away from the trillion-dollar company.

However, Thomas Champion, the Equity Research Analyst at Piper Sandler, is confident that Google stock will reach the $400 milestone. He wrote in a note to institutional clients, urging them to begin taking an entry position in GOOG. He also hiked the price target by $5, indicating bullishness on the leading global asset. An entry position even at the $340 range can still be profitable, according to the analyst.

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Google Stock New Price Target: Piper Sandler

The Piper Sandler analyst has predicted that Google stock would reach a new price target of $400. The previous target from the financial strategist was $395. He increased it by $5 and projected that GOOG would hit the psychological mark. The bulls have been waiting for the search engine giant to reclaim the $400 milestone, which it hit in mid-May this year. After falling from a high of $408, the leading equity is yet to reclaim its post space.

He hiked Google’s stock price target to $400, citing Alphabet’s re-acceleration of digital advertising and mainly highlighting YouTube Shorts monetization. The new form of video consumption is closing the revenue-per-impression gap with core YouTube feeds, providing an incremental boost to overall Google Services revenue. It is also capturing a higher share of performance marketing budgets than expected. He also explained Alphabet’s monetization of enterprise AI and Cloud growth, highlighting the company’s role in the sector.