UBS Alphabet (Google) · GOOGL

UBS Cuts Alphabet Price Target to $379

1 min read Reproduced verbatim
Rating
In Line
Target
$379
from $400 (−5%)
Upside
+35%
GOOGL at $280 today
UBS and Alphabet (Google) logos

What the analyst said

UBS analyst Stephen Ju lowered the price target on Alphabet (NASDAQ: GOOGL) to $379 (from $400) while maintaining a Neutral rating.

“This quarter there were fewer reasons to cheer with Search and Cloud growth roughly in line (vs beats 1Q26) alongside the company flagging two margin drags vs the 2Q26 level: 1) stepped up CapEx intensity for 2026 (which also drives up our 2027 estimate) and 2) ongoing higher hiring needs (with SBC coming in hotter than we anticipated).

As such, our gross revenues change marginally for 2027E and 2028E, but our costs go up faster by ~2% and ~3%, respectively.

We have been fielding more questions on Google about FCF growth returning to historic levels, and after today’s update (where revenue is largely unchanged but costs work higher) we have no clearer answers.

In fact we worry that CapEx for 2027 might climb further from here out as input costs rise and Google continues to invest in frontier model training, and that exacerbates potential for downward revisions to organic EPS (ex mark to market on equity investments).

Given the near peak multiple and more likely downward vs upward revision to EPS, we think the risk reward skew remains more favorable on AMZN.

We reduce our price target by $21 to $379 and maintain our Neutral rating.”

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Where the price stands

GOOGL trades at $280. The 31 analysts who set a target in the last 3 months range from $300 to $485, with a median of $400. This $379 target is 5% below the median.

Since the note GOOGL has moved −18% (from $342). 12-month window: day 101 of 365, closes on July 23, 2027.

Track record

This callOpen: GOOGL has not reached $379 yet. This 12-month target is scored on July 23, 2027.

Firm track recordUBS: 88% of its 41 targets at least a year old were reached within 12 months (#7 of 21 firms). Accuracy ranking →

Earnings reactionOne of 18 notes after Alphabet (Google)’s Jul 22 results: 3 raised · 9 cut · 6 kept. See every call →

UBS on Alphabet (Google)

UBS price targets on Alphabet (Google)

8 calls from February 5, 2026 to October 29, 2026. The target went from $348 to $332 (−5%). The rating stayed Hold.

UBS targetGOOGL share price
  1. October 29, 2026Target cut from $380 (−13%)Hold$332
  2. October 14, 2026Target raised from $379 (0%)Hold$380
  3. July 23, 2026 This noteTarget cut from $410 (−8%)Hold$379
  4. June 3, 2026Kept the $410 targetHold$410
  5. April 30, 2026Target raised from $375 (+9%)Hold$410
  6. April 23, 2026Kept the $375 targetHold$375
  7. April 21, 2026Target raised from $348 (+8%)Hold$375
  8. February 5, 2026Earliest call shownHold$348
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Other analysts on Alphabet (Google)

Wells FargoBuy Cut price target −11%, kept rating Oct 30 $371from $417 TD CowenBuy Cut price target −5%, kept rating Oct 29 $460from $485 BMO CapitalBuy Cut price target −11%, kept rating Oct 29 $425from $480 CantorBuy Cut price target −17%, kept rating Oct 29 $350from $420 RBC CapitalBuy Cut price target −6%, kept rating Oct 29 $400from $425
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.