Alphabet’s Google Class C stock (NASDAQ: GOOG) opened Friday’s trading bell trading at $367. The search giant has mostly been on the back foot since May, falling from a high of $408. GOOG is facing heavy resistance with sell-offs and profit bookings being initiated post the yearly high. In addition, the grey cloud over tech firms on their capex is hanging around in Q2.
Also Read: Google Stock in Trouble: StockWits Sentiment For GOOGL Dips to Neutral
What Will Google Stock Be Worth 1 Year From Now?
A total of 72 analysts on TradingView have given their consensus on Google stock’s one-year price target. The overall consensus remains bullish with the potential of gaining double-digit returns in the next 12 months. The prediction indicates that accumulating GOOG at the $360 level or buying the dips during the downturn could be beneficial.
According to the analysts’ consensus, Google stock could reach a maximum high of $550 in the next 12 months. Out of the 72 analysts, 62 of them predicted that the target is $550. That’s a profit of around $183 per share by holding GOOG for over a year. This makes the tech titan a must-watch equity as the upside potential is immense.
If Google stock reaches the price target of $550, that’s an uptick of approximately 50%. Therefore, an investment of $1,000 could balloon into $1,500 if the target is accomplished. That’s massive gains in the next 12 months, as very few assets can deliver up to 50% gains.
On the downside, analysts have warned that if the broader stock market experiences turbulence, Google stock could fall to a low of $340. That’s a dip of nearly 7.5% from its current price, but it is not a steep fall. Managing a single-digit decline is easier than seeing a sharp correction. Also, a rebound from this level can be faster and not be a burden to traders.