Google Price Target Increased to $985.00 by Analysts at Piper Jaffray Cos. (GOOG)
Equities researchers at Piper Jaffray Cos. boosted their target price on shares of Google (NASDAQ:GOOG) from $975.00 to $985.00 in a research report issued on Friday, American Banking News.com reports. The firm currently has an “overweight” rating on the stock. Piper Jaffray Cos.’s price objective would suggest a potential downside of 2.61% from the stock’s previous close.
Google (NASDAQ:GOOG) traded up 13.80% during mid-day trading on Friday, hitting $1011.408. 11,584,258 shares of the company’s stock traded hands. 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 $880.4 and its 200-day moving average is $869.4. The company has a market cap of $336.8 billion and a P/E ratio of 25.71. Google also was the target of unusually large options trading activity on Thursday. Traders bought 73,980 call options on the stock. This represents an increase of approximately 311% compared to the typical 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.
In other Google news, CEO Lawrence Page unloaded 20,835 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $890.31, for a total value of $18,549,608.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on GOOG. Analysts at Cowen and Company raised their price target on shares of Google from $972.00 to $1,110.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. 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 company currently has a consensus rating of “Buy” and a consensus price target of $1,026.76.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
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