Market Update (NASDAQ:GOOG): Fiat Chrysler says self-driving car deal with Google not exclusive

[Reuters] – ROME (Reuters) – A newly-struck deal between Alphabet Inc’s Google (GOOGL.O) and Fiat Chrysler Automobiles (FCA) (FCHA.MI) (FCAU.N) for a fleet of 100 self-driving cars is not exclusive, Fiat’s Chief Executive … Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $479.35B, opened this morning at $697.70. Looking at the stock, its one day range is $696.25 to $701.70 with a trailing 52-week range being $515.18 to $789.87. GOOG shares are currently priced at 20.71x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.35x earnings multiple. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $8.06 per share, which would be $1.07 better than the year-ago quarter and a $0.13 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $33.59 would be a $4.01 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 $20.75 Billion. If realized, that would be a 17.03% increase over the year-ago quarter. More recently, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. When considering if the stock is under or overvalued, the average price target is $924.83, which is 32.55% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update: Google Inc (NASDAQ:GOOG) – Google expanding self-driving vehicle testing to Phoenix, Arizona Company Update: Google Inc (NASDAQ:GOOG) – U.S. auto safety agency seeking details of Google self-driving crash Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN)