Google’s parent company Alphabet (GOOGL) is one of the largest technology companies in the world. As a leader in online advertising, search, cloud computing and more, Google dominates the digital landscape. With strong financials and continued innovation, GOOGL stock remains a compelling long-term investment.
In this comprehensive analysis, we provide an in-depth Google stock forecast for 2024. Discover GOOGL price predictions, analyst estimates, valuation, dividends, risks and more to make an informed investing decision.
Introduction to Google and GOOGL Stock
Google began in 1998 as a search engine company and has since grown into the tech giant Alphabet Inc. Alphabet consists of Google along with other technology businesses like Waymo, Verily, and DeepMind.
GOOGL is Alphabet’s publicly traded stock listed on the NASDAQ exchange. It has a market capitalization over $1 trillion, making it one of the largest global stocks.
Google accounts for the vast majority of Alphabet’s revenues through advertising, cloud services, hardware sales and more. As a result, GOOGL stock is closely tied to Google’s financial performance and outlook.
Key Facts About GOOGL Stock:
- IPO Date: August 19, 2004 at $85 per share
- 52 Week Range: $83.36 – $151.55
- Dividend Yield: 0%
- Average Volume: 27 million shares
- Market Capitalization: $1.2 trillion
Alphabet stock has provided impressive returns since its public debut, appreciating over 600%. However, after reaching all-time highs in late 2021, GOOGL has declined 30% amid broader market weakness.
Let’s analyze the Google stock forecast for the coming years.
GOOGL Stock Price Targets and Predictions
Here are the latest Google stock price predictions from analysts for 2024 and beyond:
| Bank/Firm | GOOGL Price Target | Upside to Current Price |
|---|---|---|
| Morgan Stanley | $140 | 14% |
| Mizuho | $140 | 14% |
| Wells Fargo | $160 | 33% |
| Deutsche Bank | $160 | 33% |
| JMP Securities | $160 | 33% |
| KeyBanc | $160 | 33% |
| MKM Partners | $165 | 36% |
| Piper Sandler | $175 | 45% |
The average GOOGL price target among 45 analysts is $146, which represents a 20% upside from current levels around $122.
Most experts remain bullish on Alphabet stock heading into 2024, owing to Google’s dominance in digital ads and cloud computing. MKM Partners has the highest price forecast at $165, seeing 36% upside for shares.
Meanwhile, Piper Sandler is even more bullish with a $175 price target, or 45% upside over the next 12 months. They believe GOOGL stock is attractively valued given growth prospects.
On the other hand, some firms like Morgan Stanley and Mizuho have modest $140 targets. But even their estimates represent a double-digit gain of 14% from today’s prices.
GOOGL Stock Forecast 2025 – 2030
Looking further ahead, GOOGL is likely to continue benefiting from robust digital ad spending and cloud growth.
Here are Google stock price predictions for 2025-2030:
| Year | Average Price Target | Potential Upside |
|---|---|---|
| 2025 | $190 | 56% |
| 2026 | $215 | 76% |
| 2027 | $240 | 96% |
| 2028 | $270 | 121% |
| 2029 | $305 | 150% |
| 2030 | $350 | 187% |
IfAlphabet can maintain 15%+ annual earnings growth this decade, shares could reach $350 by 2030 according to long-term projections. That represents massive upside of 187% from current levels.
Achieving this growth depends on Google maintaining its dominance in search, YouTube and cloud against competitive threats from Amazon, Facebook, Microsoft and others. But Alphabet has a solid track record of innovation and optimizing its ad business.
Overall, analysts see GOOGL delivering strong returns over the next 5-10 years. But there are also downside risks, as we’ll cover next.
GOOGL Stock Valuation
With the recent pullback, Alphabet stock looks attractively valued for long-term investors. Here is an overview of GOOGL valuation metrics:
- P/E Ratio: 17x forward earnings
- PEG Ratio: 0.9x
- Price/Sales: 4.6x
- Price/Book: 4.8x
Alphabet currently trades at a forward P/E of just 17x, below its 5-year average around 25x. This makes GOOGL relatively cheap compared to other tech giants:
| Company | Forward P/E |
|---|---|
| Alphabet | 17x |
| Meta Platforms | 14x |
| Microsoft | 25x |
| Apple | 23x |
| Amazon | 59x |
GOOGL also has strong growth metrics, with a PEG ratio under 1x indicating shares are undervalued. The lower price/sales and price/book ratios versus history also point to an attractive entry point.
If earnings grow at 15% annually as expected through 2024, GOOGL would be trading at less than 15x earnings. That’s towards the low end of its 10-22x historical range.
As profits expand from Google’s advertising leadership and cloud monopoly, Alphabet should continue trading at a premium. The current discounted multiples make GOOGL compelling for long-term investors.
GOOGL Stock Dividends
Unlike Apple and Microsoft which offer dividends, Alphabet does not currently pay a dividend on its stock. GOOGL last split its stock in 2014, but has not offered a dividend since becoming a public company.
Management has indicated dividends are not a priority, instead preferring to invest capital into growth opportunities. Speculation of a potential stock split has increased recently, which could make shares more accessible for individual investors.
While the lack of a dividend may discourage some income investors, GOOGL still offers ample shareholder return potential through its growth. Over the past 5 years, Alphabet has delivered total returns well above the S&P 500 index.
Many tech stocks like Amazon also do not pay dividends. Google reinvesting profits into new technologies and acquisitions may better compound shareholder value over the long-term.
Should You Buy GOOGL Stock in 2024?
Here is the bullish and bearish case for GOOGL stock heading into 2024:
Why You Should Buy GOOGL in 2024
- Dominant positions in search, digital advertising and cloud computing.
- Revenue growth forecast over 15% next 3 years.
- EPS projected to expand 20% annually through 2024.
- Reasonably valued with 17x forward P/E ratio.
- Innovation engine with AI, self-driving, biotech and quantum.
- Leader in mobile and video advertising with Android and YouTube.
- Strong balance sheet with $116 billion in cash.
Why You Shouldn’t Buy GOOGL in 2024
- Predicts slowing ad spending if economic downturn.
- Regulatory scrutiny remains high in U.S. and abroad.
- Acquisitions may be limited by antitrust concerns.
- Cloud competition intensifies against Amazon and Microsoft.
- Costs rising faster than revenues in recent quarters.
- No dividend provided unlike big tech peers.
Considering both the bullish and bearish arguments, GOOGL stock remains a smart long-term buy. Google’s leadership in digital ads and potential in cloud computing outweigh the regulatory concerns.
As the average price target indicates, analysts forecast over 20% upside for Alphabet stock through 2024. For long-term investors, GOOGL provides a great opportunity to buy a high-quality business on the dip.
FAQs About the Google Stock Forecast for 2023-2024
1. Is GOOGL a good stock to buy for 2023?
Yes, GOOGL is a good stock to buy for 2023. Alphabet stock trades at a reasonable 17x forward earnings with 20%+ EPS growth forecast next year. Google’s advertising leadership, cloud potential and innovation make it a compelling long-term investment after the 30% pullback.
2. Will Google stock go up in 2024?
Analysts widely expect Google stock to go up in 2024. The average GOOGL price target of $146 implies 20% upside in 2023. Price forecasts range from $140 to $175 for next year. Google’s growth drivers should continue supporting double-digit upside.
3. Is GOOGL stock overvalued right now?
No, GOOGL does not appear overvalued at current levels. The stock trades at 17x forward earnings, below its historical 25x multiple. The discounted PEG, price/sales and price/book ratios also indicate an attractive entry point. Alphabet seems fairly valued considering strong growth ahead.
4. Does Google pay dividends on GOOGL?
No, Google does not currently pay dividends on GOOGL shares. The company prefers reinvesting profits into growth initiatives and acquisitions rather than returning capital via dividends. While disappointing for income investors, the lack of dividends allows for greater upside potential.
5. Is GOOGL a buy, sell or hold?
GOOGL is a buy according to most analysts right now. The average rating is a buy with 45 out of 48 analysts recommending Alphabet stock as a buy or strong buy. After the 30% decline in 2022, shares offer an attractive long-term entry point for new money. GOOGL is a buy and hold for most investors.
6. What is the highest target for GOOGL stock?
The highest analyst target for GOOGL stock is $175, set by Piper Sandler. That forecast represents 45% upside from current levels. The lowest target is $140 from Mizuho and Morgan Stanley, suggesting 14% upside. The average GOOGL price target is $146 implying 20% growth.
Conclusion: GOOGL Remains a Smart Long-Term Investment
After reviewing the Google stock forecast and analysis for 2024, investors have ample reason for optimism. Alphabet enjoys dominant positioning in digital advertising and boasts emerging monopolies in cloud computing and AI. The company is poised to keep driving double-digit growth for years to come.
Meanwhile, GOOGL stock trades at reasonable valuations after the 30% correction. Shares appear attractively priced considering the growth runway. With analysts forecasting 20%+ upside through 2024, Alphabet remains a smart investment.
For long-term investors, GOOGL provides a great opportunity to buy a high-quality business that dominates the modern digital economy. Google has plenty of potential to drive market-beating returns over the next decade and beyond.
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