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Market Update (NASDAQ:GOOG): Bots Bring Bigger Challenge to Google’s Ad Model Than Phones Did

[at Bloomberg] – The smartphone boom upended Google’s advertising profit engine and it took years for the Internet giant to adjust to the new mobile world. The next wave of computing will be an even bigger challenge. Read more on this. Alphabet Inc. (GOOG) , valued at $487.28B, started the session at $701.62. Shares have traded today between $700.52 and $714.58 per share and has traded between $515.18 and $789.87 over the past year. GOOG shares are currently priced at 20.84x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.92x earnings multiple for the same period. According to a consensus of 37 analysts, the earnings estimate of $8.06 per share 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 $33.60 would be a $4.02 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 $20.75 Billion. If realized, that would be a 17.03% increase over the year-ago quarter. More recently, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. With the above information in mind, readers should note that the average price target is $924.83, which is 31.81% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update (NASDAQ:GOOG): U.S. top court rejects challenge to Google book-scanning project 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)
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