Oppenheimer Alphabet (Google) · GOOGL

Oppenheimer Trims Alphabet Price Target to $400

1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$400
from $445 (−10%)
Upside
+40%
GOOGL at $285 today
Oppenheimer and Alphabet (Google) logos

What the analyst said

Oppenheimer analyst Jason Helfstein lowered the price target on Alphabet (NASDAQ: GOOGL) to $400 (from $445) while maintaining an Outperform rating.

“We lower our price target to $400 (from $445) on reduced Services margins and higher financing cost. 2Q highlight was 82% y/y GCP growth vs.

63% in 1Q or $4.7B q/ q, with margins +264 bps q/q, suggesting 1.5GW added.

While YouTube beat and accelerated y/y & 2-year stack, Search was in line and stable on 2-year basis, resulting in gross advertising stable on 2-year basis for the fourth consecutive quarter.

Services OI missed Street est as margins declined 345 bps q/q, but up y/y, as AI queries (Gemini/ AI Mode) are being undermonetized.

However, this creates future margin opportunity. No timing on new Gemini Pro model. GCP backlog +11 q/q, but will rely on more 3P commute at lower margins in 2H.

Target assumes 23x ’28E EPS discounted 7%.”

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Where the price stands

GOOGL trades at $285. The 31 analysts who set a target in the last 3 months range from $300 to $485, with a median of $400. This $400 target is in line with the median.

Since the note GOOGL has moved −17% (from $342). 12-month window: day 106 of 365, closes on July 23, 2027.

Track record

This callOpen: GOOGL has not reached $400 yet. This 12-month target is scored on July 23, 2027.

Firm track recordOppenheimer: 64% of its 14 targets at least a year old were reached within 12 months. Accuracy ranking →

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

Wells FargoBuy Cut price target −2%, kept rating Nov 2 $365from $371 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
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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.