Stock Update (NASDAQ:GOOG): Why Are Google and Facebook Partnering with Each Other?

[Market Realist] – Google has made rapid strides in indexing mobile apps, just as it has with web content. Google has recently joined Facebook, its biggest rival, to encourage its users to spend more time with the Google … Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $506.12B, opened this morning at $732.58. During today’s session, GOOG traded between $731.00 to $737.75 with a trailing 52-week range being $515.18 to $789.87. GOOG shares are currently priced at 21.24x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.40x forward p/e ratio. Consensus earnings for the current quarter by the 37 sell-side analysts covering the stock is an estimate of $7.94 per share, which would be $1.06 better than the year-ago quarter and a $0.14 sequential increase. The full-year EPS estimate is $34.62, which would be a $5.04 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.32 Billion. If reported, that would be a 17.73% 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. Investors should keep in mind is that the average price target is $930.08, which is 26.96% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – Google, Facebook Stealing TV Ad Budgets, Says RBC Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN) Stock Update: Google Inc (NASDAQ:GOOG) – Google just made a move that could derail Roku’s big plan for the future