Credit Suisse reiterated their outperform rating on shares of Google (NASDAQ:GOOG) in a research report sent to investors on Monday morning, AmericanBankingNews.com reports.
“We maintain our Outperform rating on GOOG shares as well as our DCF-derived price target of $1000. Over the longer term, Google remains one of the best-positioned in our space to reap the benefits of the proliferation of connected devices. We therefore remain optimistic on Google’s ability to achieve our mid-teens revenue growth forecasts, particularly within the context of the disruptive nature of smartphones and tablet adoption.,” Credit Suisse’s analyst commented.
Google (NASDAQ:GOOG) traded up 1.48% on Monday, hitting $895.09. 1,290,333 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 has a 50-day moving average of $877.2 and a 200-day moving average of $868.6. The company has a market cap of $298.1 billion and a P/E ratio of 25.52.
Google (NASDAQ:GOOG) last released its earnings data on Thursday, July 18th. The company reported $9.56 EPS for the quarter, missing the Thomson Reuters consensus estimate of $10.78 by $1.22. The company had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $14.42 billion. During the same quarter in the prior year, the company posted $10.12 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Analysts expect that Google will post $43.48 EPS for the current fiscal year.
A number of other firms have also recently commented on GOOG. Analysts at Deutsche Bank reiterated a buy rating on shares of Google in a research note to investors on Friday, October 11th. Separately, analysts at TheStreet reiterated a buy rating on shares of Google in a research note to investors on Thursday, October 10th. Finally, analysts at Telsey Advisory Group cut their price target on shares of Google from $966.00 to $900.00 in a research note to investors on Thursday, October 10th. They now have a not rated rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $972.89.
In other Google news, Director L John Doerr unloaded 4,731 shares of Google stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $880.69, for a total transaction of $4,166,544.39. Following the completion of the sale, the director now directly owns 137 shares of the company’s stock, valued at approximately $120,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.