Google Rating Reiterated by Zacks (GOOG)
Google (NASDAQ:GOOG)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Tuesday, American Banking and Market News reports. They currently have a $1,192.00 price target on the stock. Zacks‘ price target points to a potential upside of 4.73% from the stock’s previous close.
Zacks‘ analyst wrote, “Google is one of leading providers of target-based advertisements on the web. Google’s fourth-quarter results missed the Zacks Consensus Estimate. Though the number of clicks and non-operating income remained positive, CPCs continued to decline in the last quarter. The company has shown superb execution to date, more or less maintaining share in a fast-growing market. We are also positive about its progress in video, which continues to outgrow its search revenue. Google’s search market share is of course a big positive, which along with its focus on innovation, strategic acquisitions and proactive approach to mobile should continue to generate strong cash flows. However, we recognize the growing competition, legal hassles and changing margin profile of the business and therefore reiterate our Neutral recommendation on the shares.”
Several other analysts have also recently commented on the stock. Analysts at Argus raised their price target on shares of Google from $1,210.00 to $1,350.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Macquarie raised their price target on shares of Google from $1,200.00 to $1,300.00 in a research note to investors on Friday. Finally, analysts at SunTrust raised their price target on shares of Google from $1,125.00 to $1,360.00 in a research note to investors on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. Google currently has a consensus rating of “Buy” and an average target price of $1,190.03.
In other Google news, Chairman Eric Schmidt unloaded 2,033 shares of the company’s stock on the open market in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $1,094.04, for a total value of $2,224,183.32. Following the transaction, the chairman now directly owns 1,293 shares in the company, valued at approximately $1,414,594. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Google (NASDAQ:GOOG) traded up 0.42% during mid-day trading on Tuesday, hitting $1138.16. The stock had a trading volume of 2,811,923 shares. Google has a one year low of $758.50 and a one year high of $1186.54. The stock’s 50-day moving average is $1124. and its 200-day moving average is $985.. The company has a market cap of $381.1 billion and a price-to-earnings ratio of 29.72.
Google (NASDAQ:GOOG) last announced its earnings results on Friday, January 31st. The company reported $12.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $12.21 by $0.20. The company had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $13.41 billion. On average, analysts predict that Google will post $52.03 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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