Market Update (NASDAQ:GOOG): Google’s think tank has become its own company called Jigsaw
February 16, 2016 at 19:22 PM EST
[Business Insider] – Google parent company Alphabet is spinning off what used to be its “Ideas” think-tank division… Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $475.64B, began trading this morning at $692.98. A quick look at the market, the company’s stock traded between $685.05 and $698.00 with the price of the stock fluctuating between $515.18 to $789.87 over the last 52 weeks. GOOG shares are currently priced at 19.76x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.67x earnings multiple. According to a consensus of 35 analysts, the earnings estimate of $7.92 per share would be $1.04 better than the year-ago quarter and a $0.12 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $34.53 would be a $4.95 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $20.28 Billion. If realized, that would be a 17.50% 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. When considering if perhaps the stock is under or overvalued, the average price target is $924.42, which is 33.40% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Stock Update: Google Inc (NASDAQ:GOOG) – Google has a secretive new drone project called Skybender Market Update (NASDAQ:GOOG): Did Google Ever Leave China? (GOOG) Market Update (NASDAQ:GOOG): Alphabet in 2016: Should You Buy GOOG Stock?