Alphabet’s Google stock (NASDAQ: GOOG) began Monday’s trading at $341. The search leader continues to trade within a narrow band on the indexes, generating minimal gains. Valuations have remained flat throughout the month, pulling back to the $330 range each time the stock approaches the $350 threshold. This movement is wearing thin on investor patience, as GOOG has lacked recent upward momentum, largely deterring retail traders from the tech giant.
Nevertheless, Thomas Champion, an equity research analyst at Piper Sandler, maintains strong optimism that Google shares will climb to the $400 mark. In a communication to institutional clients, he advised them to start building an entry position in GOOG. Furthermore, he raised his price target by $5, signaling a continued bullish outlook for the major global asset. The analyst notes that establishing a position even within the $340 territory can still yield profits.
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Google Stock New Price Target: Piper Sandler
The Piper Sandler analyst forecasts a new price target of $400 for Google stock, up from his previous target of $395. By bumping the target up by $5, he anticipates that GOOG will achieve this key psychological level. Market bulls have eagerly anticipated the search engine giant returning to the $400 mark, which was last reached in mid-May of this year. Following a descent from a peak of $408, the prominent stock has not yet recovered that previous ground.
Champion raised his target to $400 by pointing to Alphabet’s rebounding digital advertising growth, with a particular emphasis on YouTube Shorts monetization. This emerging video format is successfully closing the revenue-per-impression gap relative to standard YouTube feeds, delivering a supplemental lift to total Google Services revenue while securing a larger-than-anticipated portion of performance marketing budgets. Additionally, he pointed to Alphabet’s progress in enterprise AI monetization and Cloud expansion, underscoring the firm’s prominence in the industry.