Stock Update: Google Inc (NASDAQ:GOOG) – Can ‘Unplugged’ Drive Revenues For Google’s YouTube?
May 09, 2016 at 08:38 AM EDT
[at Forbes] – After launching YouTube Red last year, its first paid subscription service, Alphabet Inc.’s subsidiary Google is now reportedly working on a paid subscription service called “Unplugged” that would offer customers a bundle of cable TV channels streamed over the Internet. The project is likely to be launched next year and Read more on this. Alphabet Inc. (GOOG) , valued at $490.22B, started trading this morning at $712.00. Today’s price range has been between $710.00 and $717.24 per share with its 52-week range being $515.18 to $789.87. GOOG shares are currently priced at 21.17x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.35x forward p/e ratio. According to a consensus of 36 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. The full-year EPS estimate is $33.59, which would be a $4.01 better than last year. 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. More recently, 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 is $924.83, which is 29.89% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update (NASDAQ:GOOG): Nelly Furtado Joins Sixx:A.M., Debbie Harry Calls for Google to Act on YouTube Cash Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN) Stock Update: Google Inc (NASDAQ:GOOG) – Google just made a move that could derail Roku’s big plan for the future