Alphabet’s Google stock (NASDAQ: GOOG) crashed on Thursday, falling 40 points and shedding nearly 13% on heavy selling. GOOG plummeted to $282 and is now trading close to its March 2026 lows of $273. The search giant fell to this level when the war between the US and Israel broke out in March this year. On the heels of the dramatic crash, 5 leading Wall Street firms have cut Google stock’s price target.
Leading Wall Street financial firms are turning bearish and cautious on Google stock. Fears of an AI bubble are high after the company’s $9 billion cash burn. Many analysts also labeled the crash as “Alphabet’s worst day ever.” To add salt to the wound, Bank of America reiterated its valuation of Google search at a lower multiple than fossil fuel stocks. Thursday’s crash wiped out nearly $500 billion in market value, and all focus is now on GOOG.
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Google Stock: Wall Street Firms Lower Price Target
Five Wall Street firms that lowered Google stock price targets are JP Morgan, DA Davidson, Truist Financial, Wedbush, and Susquehanna. Below is the list of how much they have lowered their target price for GOOG.
JP Morgan: Cuts Google stock price target by $50. Analyst Doug Anmuth’s previous target for GOOG was $425. He has lowered it to $375 after the crash.
DA Davidson: The five-star-rated analyst Gil Luria has also cut Google’s stock price target by $50. The previous target by the analyst was $350, and he has cut it down to $300.
Wedbush: Analyst Ygal Arounian has lowered GOOG’s target by $58. His previous target was $445 and chopped it down to $387.
Truist Financial: Strategist Youssef Squali is the only one to lower GOOG target by $10. He had given it a target of $420 previously, but lowered it to $410 now.
Susquehanna: Analyst Shyam Patil cut GOOG the highest with a reduction of $60. His previous target for GOOG was $460 and is now $400.