Alphabet (GOOGL) stock remains in focus as top Citizens analyst Andrew Boone pointed to slowing YouTube engagement for the first time in years. Boone kept a Buy rating on Alphabet with a $290 price target, indicating a 22.6% upside from current levels. He said that the company’s long-term outlook remains solid despite weaker recent trends on its video platform.
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It is worth noting that Boone ranks 371 out of more than 10,000 analysts tracked by TipRanks. He has a success rate of 57%, with an average return per rating of 15.5% over a one-year timeframe
YouTube Sees First Drop in Global Viewing Time
Boone said YouTube’s global time spent fell 1.2% year-over-year, the first drop since Citizens began tracking usage. He noted that this decline could be a sign of rising competition from TikTok and Instagram, which continue to pull users toward short-form videos.
At the same time, TikTok’s global time spent jumped 8.7% year-over-year, a sharp acceleration of more than 1,100 basis points from last year. Boone said this shows TikTok’s growing pull among younger users, especially outside the U.S.
However, he also pointed out that Citizens’ data doesn’t include connected TV (CTV) viewing, where YouTube has been expanding quickly. That means YouTube’s total watch time could be stronger than the data suggests, especially on TVs and streaming devices.
Boone Remains Upbeat about Alphabet’s Core Business
Even with the dip in engagement, Boone said he remains upbeat about Alphabet’s broader business, citing its strength in digital ads, cloud services, and AI. He believes YouTube’s viewing trends could recover as AI tools and new formats boost engagement in the coming quarters.
“While competition is heating up, Alphabet’s reach, product mix, and steady ad demand give it a clear edge,” Boone said.
Is GOOGL a Good Stock to Buy Now?
According to TipRanks, GOOGL stock has a Strong Buy consensus rating based on 29 Buys, and eight Holds assigned in the last three months. At $253.66, the Alphabet share price target implies a 7.22% upside potential.
Year-to-date, GOOGL stock has gained over 25.38%.
