Alphabet’s Google stock (NASDAQ: GOOG) climbed above the $370 mark on Tuesday’s trading session, ending the day at $372. GOOG has had a great start in August, rising nearly 14% in the last five days. The double-digit surge is attracting investors who are hopeful that the search giant could climb above the $400 level. The equity had reached a high of $408 in May 2026 ahead of the Q1 earnings call but experienced a relentless slump till July.

Things are now moving in favor of Google stock this month, as the equity is positioning itself for a bull run. On the heels of the ongoing price spurt, investment banking giant Jefferies has maintained its buy rating for GOOG. The investment bank reiterated that the search engine giant could climb above $400 next. This makes GOOG a must-watch equity, as the Wall Street firm is confident of its upward price trajectory.

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Jefferies Provides New Google Stock Price Target (GOOG)

Brent Thill, the stock market analyst at Jefferies, wrote in a note to clients sent on Monday (August 3, 2026), predicting that Google stock could reach a new price target of $445. That’s an uptick and return on investment (ROI) of approximately 20% from its current price of $372. This makes an investment of $1,000 turn into $1,200 if the price prediction from Jefferies turns out to be accurate.

That’s a potential to earn double-digit gains in Google stock, as Alphabet is aiming to take the top spot in the AI sector. The company announced an increase in capex from $180 billion to $205 billion in 2026 to build its AI infrastructure. While Wall Street is worried about the increased spending, several analysts highlight Alphabet’s disciplined spending. The $462 billion backlog in AI products is among the reasons that keep hopes alive for GOOG.