KeyBanc Alphabet (Google) · GOOGL

KeyBanc Lowers Alphabet Price Target to $410

October 19, 2026 Analyst: Justin Patterson 1 min read Reproduced verbatim
Rating
Buy
Target
$410
from $435 (−6%)
Upside
+19%
GOOGL at $344 today
KeyBanc and Alphabet (Google) logos

What the analyst said

KeyBanc analyst Justin Patterson lowered the price target on Alphabet (NASDAQ: GOOGL) to $410 (from $435) while maintaining an Overweight rating.

“Cloud vs. Search & Personal Intelligence; We remain positive on Alphabet’s long-term positioning in AI and eventual Waymo monetization.

However, with Cloud and TPU momentum already factored in and Gemini 4 Argon now released, we believe both Search growth and Services operating margin to be at least in line (if not better).

Consensus strikes us as aggressive here; thus, we are mindful shares could be rangebound until estimates rationalize.

We maintain our OW rating but lower our PT to $410 (23.3x 2028E P/E) to reflect lower Google Services earnings and a more conservative Google Cloud P/E for TPU contribution.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

GOOGL trades at $344. The 24 analysts who set a target in the last 3 months range from $350 to $515, with a median of $420. This $410 target is 2% below the median.

12-month window: day 0 of 365, closes on October 19, 2027.

Track record

This callOpen: a 12-month target, scored on October 19, 2027, a year after the note.

Firm track recordKeyBanc: 80% of its 10 targets at least a year old were reached within 12 months (#18 of 28 firms). Accuracy ranking →

KeyBanc on Alphabet (Google)

KeyBanc price targets on Alphabet (Google)

8 calls from January 26, 2026 to October 19, 2026. The target went from $360 to $410 (+14%). The rating stayed Buy.

KeyBanc targetGOOGL share price
  1. October 19, 2026 This noteTarget cut from $435 (−6%)Buy$410
  2. October 1, 2026Target cut from $445 (−2%)Buy$435
  3. July 10, 2026Target raised from $425 (+5%)Buy$445
  4. April 30, 2026Target raised from $380 (+12%)Buy$425
  5. April 22, 2026Kept the $380 targetBuy$380
  6. April 20, 2026Target raised from $370 (+3%)Buy$380
  7. February 5, 2026Target raised from $360 (+3%)Buy$370
  8. January 26, 2026Earliest call shownBuy$360
Share

Other analysts on Alphabet (Google)

JP MorganBuy Raised price target +1%, kept rating · Oct 15 $425from $420 UBSHold Raised price target +1%, kept rating · Oct 14 $380from $379 Citizens JMPBuy Kept rating and price target · Oct 14 $515maintained BMO CapitalBuy Kept rating · Oct 9 Citizens JMPBuy Kept rating and price target · Oct 9 $515maintained
Share on
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.