Company Update: Google Inc (NASDAQ:GOOG) – Google Ties With Lenovo, Makes Rare China Comment

[at Forbes] – Bottom line: Google’s new alliance with Lenovo and its rare response to Chinese media rumors are the latest signals of its plans to launch an app store and sell its Nexus smartphones in China later this year. Google has been in the Chinese headlines twice these last few days, announcing a Read more on this. Alphabet Inc. (GOOG) , with a current value of $491.58B, opened this morning at $716.61. Today, shares have traded between $711.58 and $717.92 per share and has traded between $486.23 and $779.98 over the past 12 months. Priced at 24.65x this year’s forecasted earnings, GOOG shares are relatively expensive compared to the industry’s 13.42x forward p/e ratio. According to a consensus of 40 analysts, the earnings estimate of $8.09 per share 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 based on a consensus revenue forecast of the current quarter of $20.78 Billion. If realized, that would be a 43.51% increase over the year-ago quarter. Recently, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. Investors should keep in mind is that the average price target is $853.67, which is 19.13% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – Smartphone Winners: Facebook, Amazon.com and Google Company Update (NASDAQ:GOOG): Google’s Biggest Rivals in China Company Update: Google Inc (NASDAQ:GOOG) – Google’s Page Embraces, Distances Self from China