Company Update (NASDAQ:GOOG): Google opens new virtual reality door

[AAP] – Google wants to play an even bigger role in managing people’s daily lives, while also nudging them into an alternate reality. As part of an onslaught of upcoming products, Google will implant a more personable form of artificial intelligence into an internet connected device called Home, which echoes the Echo, Amazon.com’s trendy smart-home speaker. Meanwhile, Google will also delve deeper into the still nascent realm of virtual reality with a system called Daydream that’s meant to challenge Facebook owned Oculus’s early lead in fabricating artificial worlds. Read more on this. Alphabet Inc. (GOOG) , with a current value of $465.71B, opened this morning at $678.97. During the trading session, GOOG traded between $674.53 to $680.33 and has traded between $515.18 and $789.87 over the past year. Google (GOOG) shares are currently priced at 19.89x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.21x earnings multiple for the same period. According to a consensus of 37 analysts, the earnings estimate of $8.05 per share would be $1.06 better than the year-ago quarter and a $0.14 sequential decrease. The full-year EPS estimate is $33.59 which would be a $4.01 better than last year’s full-year earnings. 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. Recently, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. With the above information in mind, readers should note that the average price target is $924.83, which is 36.21% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – Here’s who Google has been ‘forgetting’ in European privacy cases Company Update: Google Inc (NASDAQ:GOOG) – Google invented this weird-looking gadget to collect people’s medical info Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN)