Evercore Alphabet (Google) · GOOGL

Evercore ISI Lowers Alphabet Price Target to $435

Analyst: Mark Mahaney 1 min read Reproduced verbatim
Rating
Outperform
Target
$435
from $450 (−3%)
Upside
+34%
GOOGL at $325 today
Evercore and Alphabet (Google) logos

What the analyst said

Evercore ISI analyst Mark Mahaney lowered the price target on Alphabet (NASDAQ: GOOGL) to $435 (from $450) while maintaining an Outperform rating.

“Our GOOGL View: We maintain our Outperform rating but lower our estimates and PT (from $450 to $435, for 45%+ upside) in the wake of Mixed Q3 EPS results.

Q3 Revenue of $128B (+25% FXN) came in slightly above ISI/Street, while Operating Income of $40.6B (+30% Y/Y, 32% Margin) came in materially below ISI/Street at approx. $43B.

While Cloud segment results (103% Revenue growth, 36% Operating Margins & $561B in backlog) were stronger than expected and matched high whisper expectations, shortfalls and pronounced deceleration in Advertising (Search & YouTube) revenue growth – along with the Operating Income miss and cautious Q4 Ads outlook comments – correctly took shares down in the aftermarket.

We believe shares will likely now be range-bound until a) GOOGL can show greater traction in Search AI monetization, b) the market better understands TPU costs, and c) we gain greater visibility into the magnitude and timing of trough FCF levels.

We believe this is a quarters – not years – transition, so we’ll maintain our Outperform.”

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Where the price stands

GOOGL trades at $325. The 26 analysts who set a target in the last 3 months range from $300 to $485, with a median of $411. This $435 target is 6% above the median.

12-month window: day 0 of 365, closes on October 29, 2027.

Track record

This callOpen: a 12-month target, scored on October 29, 2027, a year after the note.

Firm track recordEvercore: 100% of its 11 targets at least a year old were reached within 12 months. Accuracy ranking →

Evercore on Alphabet (Google)

Evercore price targets on Alphabet (Google)

4 calls from March 26, 2026 to October 29, 2026. The target went from $400 to $435 (+9%). The rating stayed Buy.

Evercore targetGOOGL share price
  1. October 29, 2026 This noteTarget raised from $420 (+4%)Buy$435
  2. July 23, 2026Kept the $420 targetBuy$420
  3. April 30, 2026Target raised from $400 (+5%)Buy$420
  4. March 26, 2026Earliest call shownBuy$400
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Other analysts on Alphabet (Google)

RosenblattBuy Cut price target −7%, kept rating Oct 29 $380from $410 CitiBuy Cut price target −16%, kept rating Oct 29 $375from $447 GuggenheimBuy Kept rating and price target Oct 29 $450maintained BairdBuy Cut price target −5%, kept rating Oct 29 $380from $400 SusquehannaBuy Cut price target −13%, kept rating Oct 29 $400from $460
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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.