Google Rating Increased to Outperform at Wells Fargo & Co. (GOOG)
Google (NASDAQ:GOOG) was upgraded by Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $3.20 price objective on the stock. Wells Fargo & Co.’s target price would indicate a potential downside of 99.72% from the company’s current price.
Google (NASDAQ:GOOG) traded up 2.35% during mid-day trading on Tuesday, hitting $1149.40. The stock had a trading volume of 2,484,514 shares. Google has a one year low of $695.52 and a one year high of $1151.00. The stock has a 50-day moving average of $1093. and a 200-day moving average of $962.8. The company has a market cap of $384.0 billion and a price-to-earnings ratio of 30.56.
GOOG has been the subject of a number of other recent research reports. Analysts at Oppenheimer raised their price target on shares of Google from $1,067.00 to $1,220.00 in a research note to investors on Monday. They now have a “market perform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Google from $1,100.00 to $1,305.00 in a research note to investors on Tuesday, January 7th. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Google in a research note to investors on Monday, January 6th. They now have a $1,172.00 price target on the stock, up previously from $1,075.00. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,066.08.
In other Google news, SVP Nikesh Arora sold 2,500 shares of Google stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $1,150.00, for a total transaction of $2,875,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
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