Market Update: Google Inc (NASDAQ:GOOG) – Oracle-Google trial over Android has software industry on edge

[at CNBC] – Billions of dollars are at stake in the Oracle-Google trial, but the tech industry is more concerned with what it means for free software. Read more on this. Alphabet Inc. (GOOG) , currently valued at $488.06B, opened this morning at $711.93. A quick look at the market, the company’s stock traded between $710.66 and $716.66 and has traded between $515.18 and $789.87 over the past year. Google (GOOG) shares are currently priced at 21.24x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 6.98x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 36 sell-side analysts are looking at $8.06 per share, which would be $1.07 better than the year-ago quarter and a $0.13 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $33.59 would be a $4.01 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.75 Billion. If reported, that would be a 17.03% 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. When considering if the stock is under or overvalued, the average price target is $924.83, which is 29.90% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update (NASDAQ:GOOG): EU hits Google with antitrust charges over Android conduct Company Update: Google Inc (NASDAQ:GOOG) – 420 Million Android Devices Don’t Get Security Updates, Google Reports Company Update (NASDAQ:GOOG): Oracle Seeks $9.3 Bil From Google Over Java Use; Trial Nears