Alphabet’s Google Class C stock (NASDAQ: GOOG) opened Friday’s trading bell trading at $367. The search giant has mostly been on the back foot since May, falling from a high of $408. GOOG is facing heavy resistance with sell-offs and profit bookings being initiated post the yearly high. In addition, the grey cloud over tech firms on their capex is hanging around in Q2.
What Will Google Stock Be Worth 1 Year From Now?
A total of 72 analysts on TradingView have given their consensus on Google stock’s one-year price target. The overall consensus remains bullish with the potential of gaining double-digit returns in the next 12 months. The prediction indicates that accumulating GOOG at the $360 level or buying the dips during the downturn could be beneficial.
According to the analysts’ consensus, Google stock could reach a maximum high of $550 in the next 12 months. Out of the 72 analysts, 62 of them predicted that the target is $550. That’s a profit of around $183 per share by holding GOOG for over a year. This makes the tech titan a must-watch equity as the upside potential is immense.
If Google stock reaches the price target of $550, that’s an uptick of approximately 50%. Therefore, an investment of $1,000 could balloon into $1,500 if the target is accomplished. That’s massive gains in the next 12 months, as very few assets can deliver up to 50% gains.
On the downside, analysts have warned that if the broader stock market experiences turbulence, Google stock could fall to a low of $340. That’s a dip of nearly 7.5% from its current price, but it is not a steep fall. Managing a single-digit decline is easier than seeing a sharp correction. Also, a rebound from this level can be faster and not be a burden to traders.