Stephen Ju from UBS sets a new price target of $187 for NASDAQ:GOOG, indicating an 11.7% potential upside from its current price.
Google’s search advertising business is challenged by competitors like TikTok, Amazon, and AI companies, impacting its market dominance.
The stock’s volatility and current market capitalization of approximately $2.06 trillion reflect investor interest and the competitive landscape in the digital advertising space.
On October 7, 2024, Stephen Ju from UBS set a price target of $187 for NASDAQ:GOOG. At that time, the stock was priced at $167.42, indicating an 11.7% potential upside. This target was a reduction from a previous $204 target, as reported by TheFly. Google’s search advertising business faces challenges from competitors like TikTok, Amazon, and AI companies.
Rich Greenfield from LightShed Partners discussed these threats on ‘Squawk Box’, emphasizing the growing competition in digital advertising. As these companies innovate and capture market share, Google’s dominance in the ad sector is under scrutiny. This competitive pressure may have influenced the revised price target for GOOG.
Currently, GOOG’s stock price is $167.78, reflecting a 0.46% decrease or $0.78 drop. The stock has fluctuated between $167.39 and $169.90 today. Over the past year, it reached a high of $193.31 and a low of $121.46. This volatility highlights the market’s reaction to the competitive landscape and Google’s strategic responses.
Google’s market capitalization is approximately $2.06 trillion, with a trading volume of 3.26 million shares. This substantial market cap underscores the company’s significant presence in the tech industry, despite the challenges it faces. The trading volume indicates active investor interest, possibly driven by the evolving competitive dynamics in the digital advertising space.
