December 15th, 2015

Stock Update: Google Inc (NASDAQ:GOOG) – Google expands self-driving car testing to Washington State

[Reuters] – Alphabet Inc said Wednesday its self-driving car project will expand testing to Kirkland, Washington later this month, the third city where it is testing autonomous vehicles. The company’s Google unit has conducted autonomous vehicle testing for six years in Mountain View, California, where it is based, and it expanded testing to Austin, Texas last summer. Kirkland has significant seasonal rain that allows for wet weather testing, along with hills that will allow testing of sensors at different angles and elevations. Read more on this. Alphabet Inc. (GOOG) , valued at $505.71B, began trading this morning at $768.84. Looking at today’s market, GOOG one day range is $732.69 to $774.50 with its 52-week range being $515.18 to $789.87. GOOG shares are currently priced at 22.20x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.91x earnings multiple. In a review of the consensus earnings estimate this quarter, 35 sell-side analysts are looking at $7.90 per share, which would be $1.02 better than the year-ago quarter and a $0.11 sequential increase. The full-year EPS estimate is $34.44 which would be a $4.86 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $20.22 Billion. If realized, that would be a 17.15% 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. The average price target for GOOG shares by the analysts covering the stock is $930.08, which is 20.97% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update: Google Inc (NASDAQ:GOOG) – Google Self-Driving Car ‘Failures’ In Two Charts: 272 Over One Year — But Improvement Seen Stock Update (NASDAQ:GOOG): Ford and Google teaming up to make self-driving cars Stock Update: Google Inc (NASDAQ:GOOG) – Google is going after Uber by turning its self-driving-cars division into its own business
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