Market Update (NASDAQ:GOOG): Google’s Failed Prank Shows A Deeply Confused Company

[at Forbes] – Google has pulled a lot of pranks in its day, but this has got to be the worst one. The idea was called “Mic Drop:” a special send button in Gmail that would replace your signature with a Gif of one of Despicable Me’s minions dropping a mic, the idea being that once you sent that email you wouldn’t be able to receive any responses. The company decided to implement it with a little Mic Drop button right next to the normal “send” button, without much in the way of explanation. So people started clicking it by accident and inadvertently ruining their careers/lives. Fun! Read more on this. Alphabet Inc. (GOOG) , valued at $514.66B, opened this morning at $738.91. During the trading session, GOOG traded between $737.00 to $748.98 and has traded between $515.18 and $789.87 over the past 12 months. GOOG shares are currently priced at 21.52x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.05x earnings multiple for the same period. 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. Investors should also note that the full-year EPS estimate of $34.62 is a $5.04 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 $20.32 Billion. If realized, 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. The average price target for GOOG shares is $930.08, which is 25.87% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN) Market Update (NASDAQ:GOOG): Google’s think tank has become its own company called Jigsaw Market Update (NASDAQ:GOOG): Google Shows Sites That Get Most ‘Right to be Forgotten’ Requests, More Than 500K Pages Removed