December 15th, 2015

Market Update: Google Inc (NASDAQ:GOOG) – AI chief to take the helm of Google search

[at CNBC] – Google may get even more intuitive now that the leader of AI is taking the helm. Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $486.90B, started trading this morning at $723.38. Today, shares have traded between $701.88 and $724.20 per share with the price of the stock fluctuating between $515.18 to $789.87 over the last 52 weeks. GOOG shares are currently priced at 21.08x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.91x forward p/e ratio. Consensus earnings for the current quarter by the 35 sell-side analysts covering the stock is an estimate of $7.92 per share, which would be $1.04 better than the year-ago quarter and a $0.13 sequential increase. What we find to be interesting is that the full-year EPS estimate of $34.49 is a $4.91 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.25 Billion. If reported, that would be a 17.32% increase over the year-ago quarter. In terms of ratings, 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 is $924.42, which is 27.79% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update: Google Inc (NASDAQ:GOOG) – Google Partners With Lowe’s For New DIY Tools Company Update: Google Inc (NASDAQ:GOOG) – Alphabet To Post ‘Big’ 2016 On Google Search: Analyst Company Update: Google Inc (NASDAQ:GOOG) – Google: Axiom Ups Target to $1,000 on Higher Search Spend
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