NEW YORK (TheStreet) -- Shares of Alphabet (GOOGL) - Get Report  were declining in pre-market trading on Wednesday as Wedbush reduced its stock rating to "underperform" from "neutral."

The firm also cut the technology company's stock rating to $700, TheFly reports. 

Wedbush said it's concerned that self-identified consumers, consumer control of IP-delivered ads, payment innovation and attention markets could all pressure the stock.

"Paid search monetizes better than other digital media because its traffic is a good proxy for 'self-identified consumers,'" the firm said in an analyst note, according to MarketWatch. "GOOGL's recent mobile search ad changes push the traffic mix to paid from organic, which has decelerated sharply." 

This could make it difficult to monetize these customers as advertisers weigh the cost of search ads against return on investment, Wedbush added. 

(Alphabet is a core holding of Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

The team rates Alphabet as a Buy with a ratings score of A. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that it rates. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. Although the company may harbor some minor weaknesses, the team feels they are unlikely to have a significant impact on results.

You can view the full analysis from the report here: GOOGL

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