Scotiabank Maintains "Outperform" Rating for Alphabet Inc. (NASDAQ:GOOG)

Font: Financial Modeling Prep  • Feb 05, 2026

• Scotiabank has maintained its "Outperform" rating for Alphabet Inc. (NASDAQ:GOOG) and increased its price target from $375 to $400.
• Alphabet's stock experienced a decline of 6.1%, trading at $312.64, following an announcement of a capital expenditure forecast significantly above investor expectations.
• The stock's volatility, with a trading range between $306.92 and $326.55, reflects investor uncertainty after the capital expenditure forecast announcement.

On February 5, 2026, Scotiabank maintained its "Outperform" rating for Alphabet Inc. (NASDAQ:GOOG), with a recommendation to "hold" the stock. At the time, the stock price was around $320. Scotiabank also increased its price target for Alphabet from $375 to $400, as highlighted by TheFly. Alphabet, known for its dominance in the tech industry, competes with other giants like Amazon and Microsoft.

Alphabet's shares have recently experienced a decline of 6.1%, now trading at $312.64. This drop follows the company's announcement of a capital expenditure forecast between $175 billion and $185 billion for the year. This projection has significantly exceeded investor expectations, which were around $115 billion, causing concern among stakeholders.

Currently, GOOG's stock price on the NASDAQ is $320.47, reflecting a decrease of approximately 3.86%. The stock has dropped by $12.88 today. During the trading day, the stock price has fluctuated between a low of $306.92 and a high of $326.55. This volatility indicates investor uncertainty following the capital expenditure announcement.

Over the past year, GOOG has reached a high of $350.15 and a low of $142.66. Despite the recent decline, the company's market capitalization remains robust at approximately $3.87 trillion. The trading volume stands at 26.57 million shares, suggesting active investor interest in the stock despite recent fluctuations.