Company Update: Google Inc (NASDAQ:GOOG) – Marchionne Says Automaker Isn’t Just Bashing Metal for Google

[at Bloomberg] – Fiat Chrysler Automobiles NV is an active partner with Alphabet Inc.’s Google to marry self-driving car technology with the automaker’s plug-in hybrid minivan, FCA Chief Executive Officer Sergio Marchionne … Read more on this. Alphabet Inc. (GOOG) , valued at $485.43B, opened this morning at $698.38. During the trading session, GOOG traded between $698.11 to $707.35 and has traded between $515.18 and $789.87 over the past year. Priced at 20.71x this year’s forecasted earnings, GOOG shares are relatively expensive compared to the industry’s 13.35x forward p/e ratio. Consensus earnings for the current quarter by the 36 sell-side analysts covering the stock is an estimate of $8.06 per share, which would be $1.07 better than the year-ago quarter and a $0.13 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $33.59 is 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. Recently, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. Investors should keep in mind is that the average price target is $924.83, which is 32.43% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – Google invented this weird-looking gadget to collect people’s medical info Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN) Company Update: Google Inc (NASDAQ:GOOG) – Google Ad Business Under Scrutiny as EU Said to Revive Probe