Google Stock Outlook Weakens as JPMorgan Cuts Target to $375 and UBS Sees AI Spending Risks

• Google stock has faced fresh Wall Street analysis and price target cuts following Alphabet’s Q3 earnings, with analysts questioning its Search growth and advertising performance
• Alphabet stock is facing pressure from rising AI spending, which reached $51.36B in capital expenditure and contributed to negative free cash flow of around $9.1B
• The Google stock forecast remains mixed as JPMorgan and UBS lower their targets while Citizens downgrades the stock, highlighting growing concerns about AI monetization and search competition

Google Stock is encountering further pressure as its latest Q3 earnings report failed to meet investors’ expectations. Wall Street analysts have recently released new Google stock targets, keeping the latest report in mind, with the stock being downgraded by multiple analyst firms. Several major investment firms have lowered their Google stock targets, citing slower search growth and weaker-than-expected advertising performance, with rising AI spending also adding to concerns. What are the latest Google stock targets that Wall Street has issued for the firm?

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Google Stock Faces Fresh Price Target Cuts

Alphabet’s Q3 earnings report has triggered a major market reaction. The recently released Q3 report showed how Google is facing slower Search growth and weaker-than-expected advertising performance. This has led Wall Street analysts to lower Google stock targets, with JPMorgan lowering its Google stock target from $425 to $375 while maintaining an Overweight rating. The firm pointed out how heavy AI infrastructure spending is a key concern for Google stock; however, it believes that the Search challenges can be managed in the near future.

UBS also lowered Google’s stock target, bringing it to $332 from an earlier target of $380. The firm maintains a Neutral rating, citing weaker Search and YouTube revenue. BofA, on the other hand, has slashed the stock target from $430 to $380 but has retained its Buy rating for the stock.

Leading firms such as MoffettNathanson, Piper Sandler, and TD Cowen have also reduced their Google stock targets. The firms now have revised targets ranging from $345 to $460.

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AI Spending and Search Growth Put Alphabet Stock Under Pressure

One of the biggest concerns behind the recent downgrading of Alphabet stock is its growing AI spending and expenditure. Alphabet reported third-quarter revenue of $127.6B but also reported capital expenditure worth $51.36B in Q3 2026.

This spending contributed to negative free cash flow of around $9.1B during the quarter.

Citizens’ New Rating Puts Google Stock in Focus

On the other hand, Citizens has taken a more cautious stance concerning Alphabet stock.

The firm has downgraded Google stock from Outperform to Market Perform without issuing a target price for the stock.

According to the MCO ROI comparison tool, Alphabet stock (GOOG) recorded a decrease of 0.89x between January 1 and October 30, 2026. Meta Platforms (META) also reported a decline of 0.97x over the same period. The comparison highlights the pressure on GOOG stock alongside other major technology stocks. This performance adds another dimension to Wall Street analysis as investors assess the Google forecast, particularly amid rising AI spending and questions about when Alphabet’s investments will translate into stronger returns.

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