Google Given New $1,110.00 Price Target at Cowen and Company (GOOG)
Equities research analysts at Cowen and Company boosted their price objective on shares of Google (NASDAQ:GOOG) from $972.00 to $1,110.00 in a research note issued to investors on Friday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price indicates a potential upside of 9.75% from the stock’s previous close.
In other Google news, CEO Lawrence Page sold 20,835 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $890.31, for a total value of $18,549,608.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
GOOG has been the subject of a number of other recent research reports. Analysts at Cantor Fitzgerald raised their price target on shares of Google from $1,000.00 to $1,175.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Google in a research note to investors on Friday. They now have a $1,060.00 price target on the stock, up previously from $950.00. Finally, analysts at Wedbush reiterated a “neutral” rating on shares of Google in a research note to investors on Friday. They now have a $980.00 price target on the stock, up previously from $860.00. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $1,026.76.
Google (NASDAQ:GOOG) traded up 13.80% on Friday, hitting $1011.408. The stock had a trading volume of 11,584,258 shares. Google has a 1-year low of $636.00 and a 1-year high of $928.00. The stock has a 50-day moving average of $880.4 and a 200-day moving average of $869.4. The company has a market cap of $336.8 billion and a price-to-earnings ratio of 25.71. Google also was the recipient of unusually large options trading on Thursday. Traders purchased 73,980 call options on the stock. This represents an increase of approximately 311% compared to the typical daily volume of 17,999 call options.
Google (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 17th. The company reported $10.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.36 by $0.38. The company had revenue of $14.89 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the company posted $9.03 earnings per share. Google’s revenue was up 31.4% compared to the same quarter last year. On average, analysts predict that Google will post $43.48 earnings per share for the current fiscal year.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
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