December 15th, 2015

Market Update (NASDAQ:GOOG): Google Dumps Its Think Tank

[24/7 Wall St.] – Alphabet has dumped one of the businesses that has the least value to shareholders, its think tank dubbed Google Ideas. Read more on this. Alphabet Inc. (GOOG) , valued at $479.12B, started the session at $698.09. A quick look at the market, the company’s stock traded between $691.38 and $699.00 with the price of the stock fluctuating between $515.18 to $789.87 over the last 52 weeks. GOOG shares are currently priced at 20.02x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.67x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $7.93 per share, which would be $1.05 better than the year-ago quarter and a $0.13 sequential increase. Investors should also note that the full-year EPS estimate of $34.52 is a $4.94 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.28 Billion. If reported, that would be a 17.50% 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. When considering if perhaps the stock is under or overvalued, the average price target is $924.42, which is 32.42% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update (NASDAQ:GOOG): Google’s think tank has become its own company called Jigsaw Company Update: Google Inc (NASDAQ:GOOG) – New Segment Reporting Will Boost Google Stock: RBC Market Update: Google Inc (NASDAQ:GOOG) – Google appoints VMware co-founder Greene to run cloud business
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