Google Given New $1,250.00 Price Target at Bank of America Corp. (GOOG)
Investment analysts at Bank of America Corp. boosted their price target on shares of Google (NASDAQ:GOOG) to $1,250.00 in a note issued to investors on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Bank of America Corp.’s price objective indicates a potential upside of 12.30% from the stock’s previous close.
In other Google news, Chairman Eric Schmidt sold 35,740 shares of the stock on the open market in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $1,111.52, for a total value of $39,725,724.80. Following the transaction, the chairman now directly owns 1,393 shares of the company’s stock, valued at approximately $1,548,347. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on GOOG. Analysts at Zacks reiterated a “neutral” rating on shares of Google in a research note to investors on Tuesday, December 17th. They now have a $1,127.00 price target on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of Google to $1,313.00 in a research note to investors on Wednesday, December 11th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Google in a research note to investors on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Google currently has a consensus rating of “Buy” and a consensus target price of $1,064.24.
Shares of Google (NASDAQ:GOOG) traded down 0.49% on Friday, hitting $1107.6541. The stock had a trading volume of 786,698 shares. Google has a 1-year low of $695.52 and a 1-year high of $1121.00. The stock has a 50-day moving average of $1070. and a 200-day moving average of $947.4. The company has a market cap of $370.1 billion and a P/E ratio of 30.29.
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 in the prior year, the company posted $9.03 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. On average, analysts predict that Google will post $44.18 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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