Google’s Alphabet stock (NASDAQ: GOOG) is experiencing tremendous upside momentum in April. The tech titan has surged for four consecutive days and recorded a remarkable recovery from last month. GOOG fell to a low of $273 by the end of March and surged to $330 mid-April. That’s a surge of 21% in just two weeks of trading, delivering robust performance to traders.
Now that the $330 price range has been met, Google’s Alphabet stock has received a new and revised target. The latest target remains further bullish, and an entry position now can still deliver the gains. GOOG has kick-started a rally and could sustain itself in the charts by upscaling in the coming months. This makes the leading equity a must-watch asset as the uptick remains higher.
Also Read: Why Google Stock is a Better Investment than Microsoft
Citi Predicts Google’s Alphabet Stock To Reach $405
The Citi Group analysts wrote in a note to clients that Google’s Alphabet stock is set to climb toward the $405 level. That’s an uptick and return on investment (ROI) of approximately 23% from its current price of $330. Therefore, an investment of $1,000 could turn into $1,230 if the forecast turns out to be accurate.
Citi analyst Ronald Jose also put Google’s Alphabet stock on a 90-day “upside Catalyst Watch.” He highlighted that the search engine giant has a string of product releases and key events that are capable of driving GOOG much higher through mid-July. “We believe Google could report revenues and operating income above consensus projections as newer products and services are announced over the next several weeks,” wrote the Citi analyst.
The string of product launches includes feature updates across Alphabet’s product ecosystem, developments in Gemini AI models, and Cloud services. Tweaks in the search engine and YouTube are also lined up for a release. Citigroup called Google’s Alphabet stock a “relatively healthy” asset to own in the coming months. In conclusion, GOOG could be set up for a major upswing, and traders need to take note of the upcoming releases.