Company Update (NASDAQ:GOOG): If Even A Tax QC Is Getting Google’s Tax Deal Wrong Then What Hope For The Rest Of Us?
January 26, 2016 at 06:00 AM EST
[at Forbes] – The furore over the “deal” that Google struck with the UK taxman is continuing. We might even want to upgrade it to a kerfluffle in fact. And the problem with what people are saying is that they’ve simply not understood, even in the slightest, the economic background to how taxation Read more on this. Alphabet Inc. (GOOG) , valued at $486.54B, opened at $713.85. A quick look at the market, the company’s stock traded between $707.04 and $718.28 with a one year range of $499.83 to $779.98. GOOG shares are currently priced at 24.57x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 12.46x earnings multiple. According to a consensus of 39 analysts, the earnings estimate of $8.09 per share would be $1.74 better than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $28.97, which would be a $3.83 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.77 Billion. If reported, that would be a 43.44% increase over the year-ago quarter. Recently, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. Given all the information above, we should disclose to readers that the average price target is $853.67, which is 19.59% above than it opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update (NASDAQ:GOOG): How Google & Twitter Compete with Facebook’s Instant Articles (FB, GOOG) Market Update (NASDAQ:GOOG): Alphabet in 2016: Should You Buy GOOG Stock? Company Update (NASDAQ:GOOG): [video]Should You Invest in GOOG or GOOGL?