Market Update (NASDAQ:GOOG): Alphabet in 2016: Should You Buy GOOG Stock?

[US News & World Report] – As everyone knows, Google long ago evolved into more than just a ubiquitous search engine. “Alphabet gives it freedom to expand beyond its core business,” says Antonelli, managing director of the Berkeley Research Group in Chicago, who predicts that Alphabet will adding to a list of products that includes the billion-strong Android smartphone system, Google’s lightning-fast Internet fiber, Google Express delivery service and Google Glass smart eyewear. Read more on this. Alphabet Inc. (GOOG) , currently valued at $495.79B, opened this morning at $732.00. During today’s session, GOOG traded between $715.00 to $733.23 with its 52-week range being $486.23 to $779.98. GOOG shares are currently priced at 25.06x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.42x earnings multiple for the same period. Consensus earnings for the current quarter by the 40 sell-side analysts covering the stock is an estimate of $8.09 per share, which would be $1.74 better than the year-ago quarter and a $0.01 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $28.99 would be a $3.85 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.78 Billion. If reported, that would be a 43.51% increase over the year-ago quarter. In terms of ratings, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. The average price target for GOOG shares is $853.67, which is 16.62% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Stock Update (NASDAQ:GOOG): Why Alphabet (Google) Stock Will Make a Big Move Lower Very Soon Market Update: Google Inc (NASDAQ:GOOG) – The Google Trade: How to Profit from Alphabet Stock Market Update: Google Inc (NASDAQ:GOOG) – Can Alphabet/Google Make Warren Buffett Model Work?