Although Alphabet (NASDAQ: GOOGL) stock has been trapped in a choppy consolidation over the past five months, down approximately 16.5% since early May 2026, Thomas Champion, a Wall Street analyst at Piper Sandler, expects Google’s price to rally towards its all-time high (ATH) over the next 12 months.
On September 28, Champion maintained an ‘Overweight’ rating for GOOGL stock. He further elevated the firm’s 12-month price target for this tech-giant stock to $400 from $395, representing a 1.27% increase.
With GOOGL trading at $342.38 at the time of writing, this analyst suggests a feasible 16.83% uptick by September 28, 2027. This bullish thesis is based on the company’s fundamental revaluation of Google Cloud and accelerated hardware commercialization.
“Higher TPU sales, Cloud forecasts, and operating income estimates support a higher target and potential share catalyst,” Champion noted.
Piper Sandler argued that GOOGL stock will benefit from the formal integration of external TPU sales into its financial framework. Furthermore, this structural modeling projects TPU revenue to surpass $100 billion by 2028.
He added that this expansion enhances Wall Street’s expectations, whereby analysts are forced to revise their 2027 and 2028 Cloud revenue estimates to 15% and 17%, respectively.
Champion highlighted that Alphabet stock could gain as updated power and capacity modeling led Piper Sandler to boost 2027 revenue estimates by 2% and operating income by 8%, thereby raising the company’s valuation.
Google (GOOGL) stock predictions
After Champion promoted GOOGL stock price to a buy rating, 28 Wall Street analysts surveyed by TipRanks over the past three months have set an average 12-month price target of $429.08.
The highest and lowest Google stock predictions are $485 and $379, respectively.
Alphabet stock performance analysis
Year-to-date (YTD), GOOGL has climbed 8.64%, boosting the company’s valuation to $4.2 trillion at the time of publication.
As a result, Wall Street believes that GOOGL stock is well positioned to rally further over the next 12 months.
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