Citizens JMP Alphabet (Google) · GOOGL

Citizens Lowers Alphabet Price Target to $450

October 22, 2026 Analyst: Andrew Boone 1 min read Reproduced verbatim
Rating
Buy
Target
$450
from $515 (−13%)
Upside
+39%
GOOGL at $324 today
Citizens JMP and Alphabet (Google) logos

What the analyst said

Citizens analyst Andrew Boone lowered the price target on Alphabet (NASDAQ: GOOGL) to $450 (from $515) while maintaining a Market Outperform rating.

“execution risk exists, and we are incrementally cautious on Search as we believe competition is increasing with agents and requires another pivot.

To that end, we maintain our Market Outperform rating though lower our price target to $450 from $515 prior.

Our $450 price target is based on ~28x our 2027E GAAP EPS of $16.24, compared to our prior $515 PT basis of ~32x 2027E GAAP EPS.

With Google a leader in search, AI, online video, and having a significant equity stake in Waymo, it is well-exposed to all major digital trends taking place, and we believe it deserves a premium to the market multiple.”

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 $324. The 17 analysts who set a target in the last 3 months range from $380 to $485, with a median of $425. This $450 target is 6% above the median.

12-month window: day 0 of 365, closes on October 22, 2027.

Track record

This callOpen: a 12-month target, scored on October 22, 2027, a year after the note.

Firm track recordToo early to score Citizens JMP: price targets are 12-month calls and fewer than 3 of its targets are a year old. 1 of its 9 open targets have already been reached. How we score

Citizens JMP on Alphabet (Google)

Citizens JMP price targets on Alphabet (Google)

8 calls from August 14, 2026 to October 22, 2026. The target went from $515 to $450 (−13%). The rating stayed Buy.

Citizens JMP targetGOOGL share price
  1. October 22, 2026 This noteTarget cut from $515 (−13%)Buy$450
  2. October 14, 2026Kept the $515 targetBuy$515
  3. October 9, 2026Kept the $515 targetBuy$515
  4. August 31, 2026Kept the $515 targetBuy$515
  5. August 26, 2026Kept the $515 targetBuy$515
  6. August 24, 2026Kept the $515 targetBuy$515
  7. August 17, 2026Kept the $515 targetBuy$515
  8. August 14, 2026Earliest call shownBuy$515
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Other analysts on Alphabet (Google)

TruistBuy Kept rating and price target · Oct 21 $420maintained MizuhoBuy Kept rating and price target · Oct 21 $460maintained BMO CapitalBuy Raised price target +3%, kept rating · Oct 20 $480from $465 KeyBancBuy Cut price target −6%, kept rating · Oct 19 $410from $435 JP MorganBuy Raised price target +1%, kept rating · Oct 15 $425from $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.