Google Given New $1,220.00 Price Target at Deutsche Bank (GOOG)
Analysts at Deutsche Bank increased their target price on shares of Google (NASDAQ:GOOG) from $970.00 to $1,220.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. Deutsche Bank’s target price would suggest a potential upside of 37.26% from the company’s current price.
In other Google news, CEO Lawrence Page sold 20,835 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $890.31, for a total transaction of $18,549,608.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company raised their price target on shares of Google from $1,000.00 to $1,150.00 in a research note to investors on Friday. Separately, analysts at Evercore Partners reiterated an “overweight” rating on shares of Google in a research note to investors on Friday. They now have a $1,100.00 price target on the stock, up previously from $1,050.00. Finally, analysts at Jefferies Group raised their price target on shares of Google to $1,150.00 in a research note to investors on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. Google presently has a consensus rating of “Buy” and a consensus price target of $1,001.51.
Google (NASDAQ:GOOG) opened at 888.794 on Friday. Google has a 52 week low of $636.00 and a 52 week high of $928.00. The stock’s 50-day moving average is $879.7 and its 200-day moving average is $868.9. The company has a market cap of $296.0 billion and a price-to-earnings ratio of 25.71. Google also saw some unusual options trading on Thursday. Stock traders purchased 73,980 call options on the company. This represents an increase of 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 for the quarter, beating the analysts’ 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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