[Citizens Downgrades Alphabet's Rating, No Price Target] BlockBeats reports that on October 29th, following the release of its Q3 report, Citizens downgraded Alphabet from "Outperform" to "Market Performer," without setting a price target. The firm stated that while Alphabet's query growth has reached a five-year high, monetization appears to be facing challenges, and the search business is facing difficult year-over-year comparisons. Citizens believes that effectively transitioning monetization from AI overviews to proxy tools requires strong execution. With increasing competition in proxy tools, the firm believes Google faces "significant execution risks in its search monetization transformation."