Stock Update (NASDAQ:GOOG): Is Baidu About To Pull A Google And Split Off Its Search Core, Too?
April 14, 2016 at 12:23 PM EDT
[at Investor’s Business Daily] – Just as Google reorganized under new parent firm Alphabet (GOOGL), Chinese search leader Baidu (BIDU) is planning to break off its search operations into a separate company, according to a report Thursday. … Read more on this. Alphabet Inc. (GOOG) , currently valued at $519.45B, opened at $754.01. Looking at the equity, the company’s one day range is $752.71 to $757.31 with its 52-week range being $515.18 to $789.87. GOOG shares are currently priced at 21.71x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 21.00x forward p/e ratio. Consensus earnings for the current quarter by the 36 sell-side analysts covering the stock is an estimate of $7.95 per share, which would be $1.07 better than the year-ago quarter and a $0.15 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 $20.34 Billion. If reported, that would be a 17.84% increase over the year-ago quarter. In terms of ratings, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. The average price target for GOOG shares by the analysts covering it is $930.08, which is 23.35% above where the stock opened. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – Why Spotify Really Decided To Move Its Core Infrastructure To Google Cloud Company Update: Google Inc (NASDAQ:GOOG) – Alphabet To Post ‘Big’ 2016 On Google Search: Analyst Company Update: Google Inc (NASDAQ:GOOG) – Facebook Enhances Its Search Function to Take on Google