Market Update (NASDAQ:GOOG): Google Glass Primps; Facebook Oculus VR Launch Nears

[at Investor’s Business Daily] – Alphabet (GOOGL) is tweaking its latest version of wearable computer Google Glass, and this one has a new feature — it can fold up. The revised device also sports longer battery life, better wireless … Read more on this. Alphabet Inc. (GOOG) , valued at $530.24B, started the session at $776.99. Looking at the equity, the company’s one day range is $766.90 to $777.60 with its 52-week range being $486.23 to $779.98. Google (GOOG) shares are currently priced at 26.79x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.56x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 40 sell-side analysts are looking at $8.09 per share, which would be $1.74 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $28.99 is a $3.85 better 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 $20.78 Billion. If realized, that would be a 43.51% increase over the year-ago quarter. More recently, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. When considering if perhaps the stock is under or overvalued, the average price target is $853.67, which is 9.87% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Stock Update: Google Inc (NASDAQ:GOOG) – Google Vs. Facebook: Clash Of The Internet Titans Company Update: Google Inc (NASDAQ:GOOG) – Smartphone Winners: Facebook, Amazon.com and Google Stock Update: Google Inc (NASDAQ:GOOG) – Facebook ‘Big Ambitions’ Pressuring Google YouTube
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