Alphabet’s Google shares (NASDAQ: GOOG) suffered a major crash on Thursday, plunging 40 points and losing nearly 13% amid heavy sell-offs. GOOG dropped to $282, bringing it close to its March 2026 low of $273—a level the search engine giant previously hit when the conflict between the US and Israel began earlier this year. Following this steep decline, five major Wall Street firms have revised their price targets for Google stock downward.
Prominent financial institutions on Wall Street are adopting a cautious and bearish stance on the stock. Anxiety surrounding an artificial intelligence bubble has intensified following the company’s $9 billion cash burn, with numerous analysts describing the downturn as “Alphabet’s worst day ever.” Compounding these pressures, Bank of America reaffirmed its valuation of Google search at a multiple lower than that of fossil fuel companies. Thursday’s collapse erased approximately $500 billion in market capitalization, drawing intense market scrutiny toward GOOG.
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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 reductions implemented by each firm are detailed below.
JP Morgan: Reduced its Google stock price target by $50. Analyst Doug Anmuth adjusted his previous target of $425 down to $375 following the market drop.
DA Davidson: Five-star-rated analyst Gil Luria also reduced Google’s stock price target by $50. Moving down from his prior target of $350, the analyst lowered it to $300.
Wedbush: Analyst Ygal Arounian cut GOOG’s target by $58, reducing his previous goal of $445 down to $387.
Truist Financial: Strategist Youssef Squali implemented the smallest reduction, lowering the GOOG target by $10. His previous target of $420 has been adjusted down to $410.
Susquehanna: Analyst Shyam Patil made the largest reduction for GOOG, cutting the target by $60. His previous target of $460 has been brought down to $400.