Stock Update (NASDAQ:GOOG): What the Street got wrong about Google

[at CNBC] – It’s an area where Google was thought to be losing ground as consumers move from browsers to searching within apps. Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $525.87B, opened at $783.40. Today, shares have traded between $764.65 and $789.87 per share with its 52-week range being $515.18 to $789.87. GOOG shares are currently priced at 21.96x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.91x earnings multiple for the same period. According to a consensus of 28 analysts, the earnings estimate of $7.78 per share would be $0.90 better than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $34.24 would be a $34.24 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $19.92 Billion. If reported, that would be a 15.41% 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 the stock is under or overvalued, the average price target is $853.67, which is 8.97% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update (NASDAQ:GOOG): If Even A Tax QC Is Getting Google’s Tax Deal Wrong Then What Hope For The Rest Of Us? Stock Update: Google Inc (NASDAQ:GOOG) – Google is officially a ‘dog company’ Stock Update: Google Inc (NASDAQ:GOOG) – The ‘Google of Russia’ Wins as Google Loses Antitrust Probe