Market Update: Google Inc (NASDAQ:GOOG) – Google Serenades Beijing With Entrepreneur Event

[at Forbes] – Bottom line: Google’s event to promote entrepreneurs in China is its latest effort to curry favor with Beijing, and could help it win permission to open a local version of its Google Play app store by year-end. Internet giant Google is quickly joining Facebook as one of China’s biggest fans, as it looks Read more on this. Alphabet Inc. (GOOG) , valued at $522.71B, opened at $753.98. Looking at today’s market, GOOG one day range is $752.69 to $761.00 with its 52-week range being $515.18 to $789.87. Google (GOOG) shares are currently priced at 21.76x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 20.70x earnings multiple for the same period. According to a consensus of 36 analysts, the earnings estimate of $7.95 per share would be $1.07 better than the year-ago quarter and a $0.15 sequential increase. Investors should also note that the full-year EPS estimate of $34.61 is a $5.03 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 $20.34 Billion. If realized, that would be a 17.84% increase over the year-ago quarter. Recently, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $930.08, which is 23.36% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update: Google Inc (NASDAQ:GOOG) – One year after ‘Mobilegeddon,’ Google puts its focus on small businesses Market Update: Google Inc (NASDAQ:GOOG) – There’s War in the Marketing Cloud, and Google Analytics 360 Is Bringing It Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN)