Alphabet’s Google stock (NASDAQ: GOOG) opened Monday’s trading session at $379. The search giant is struggling to reclaim the $400 level, which it briefly touched in mid-May. Since then, the equity has been moving backward in value with little to no price action. This had led to many traders considering an entry position, as the equity might soon bottom out in value.

This comes after Goldman Sachs wrote in a note to clients that Google stock will reach $450 next. Therefore, accumulating GOOG at its dips could be beneficial as the equity could soon experience an uptick. The broader stock market could also recover this week as US Secretary of State Marco Rubio hinted at “good news” about the Iran peace talks. The Asian markets already surged with his comments, with India’s Sensex rising 900+ points on Monday.

Also Read: What Is Rosenblatt’s Price Prediction on Google Stock?

Google Stock: What Is the 12 Month Price Target?

Leading financial research firm StockAnalysis predicts that Google stock could reach a 12-month high of $515. That’s the most bullish price forecast and stands ahead of other price predictions. This also makes GOOG a must-watch stock as the upward trajectory is immense. Accumulating now below the $400 zone could reward traders with bigger gains if it breaches the $500 milestone.

Even the average trading price the estimate claims could be around the $420+ level. Which is still a profit even if the price stagnates in the coming months. If the price prediction for Google stock turns out to be accurate, traders can expect returns of approximately 36% in the next 12 months. Therefore, an investment of $1,000 could turn into $1,300+ if it reached the $515 target.

On the downside, the price prediction estimates Google stock to fall to the $330 level if the market faces turbulence. However, the risk-to-reward ratio compared to a high of $515 to a low of $340 is higher. Traders can make use of the dips on GOOG and hold on to the stock for the next 12 months.