Alphabet’s Google stock (NASDAQ: GOOG) opened Monday’s trading session at the $367 level. The search giant remains on the back foot, as it has shed more than 3% of its value in a month. The bears are in full control of GOOG, as the equity is struggling to climb above the $400 level. This puts the stock on a must-watch list as the price decline opens up a window for accumulation.

When the market recovers, Google stock could surge in value and reward traders who took the risk. Buying the equity below the $400 level and accumulating it at the dips below $350 could be beneficial. A new price prediction from 24/7 Wall Street projects GOOG could surge double-digits when the market recovers. The firm gave the equity a buy rating with a 90% confidence level of it reaching the mentioned target.

Also Read: Google Stock: 1-Year Price Forecast

Google Stock Price Target

24/7 Wall Street’s latest price prediction states that Google stock could reach a high of $445 next. That’s an uptick and return on investment (ROI) of approximately 21% from its current price of $367. Therefore, an investment of $1,000 could turn into $1,200+ if the price reaches the target. That’s stellar gains, as not every asset can deliver double-digit returns in the market.

Alphabet has been under scrutiny for its $185 billion capex in building its AI infrastructure. Though it has a $462 billion backlog for providing the services, it has yet to turn into active revenue. Not just Alphabet, tech titans like Microsoft, Amazon, and META, among others, are facing scrutiny over their capex. This has affected their stock prospects, stunting growth in the charts. Google stock is also facing similar rejection, with Wall Street skeptical over its AI spending. Once the revenues begin to flow in, GOOG’s direction in the markets could see a sea of change.