# Citizens Cuts Alphabet Rating to Market Perform, Sets No Price Target

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/43378
Published: 2026-10-29T09:28:23.000Z
Updated: 2026-10-29T09:28:23.000Z
Section: Investing

> Citizens cited a five-year high in Alphabet’s query growth but said search monetization remains challenging as Google moves toward agent tools.

Citizens lowered its rating on Alphabet to Market Perform from Outperform after a third-quarter report was released. Alphabet’s query growth had reached a five-year high, but the search business still faced monetization challenges.

The firm did not set a price target. Citizens also pointed to difficult year-over-year comparisons for search, adding another challenge alongside the gap between rising query activity and revenue generation.

Citizens said moving search monetization from AI Overviews toward agent tools would require strong execution. The firm said Google faced significant execution risk as competition among agent tools increased and the company changed how search is monetized.