Company Update: Google Inc (NASDAQ:GOOG) – Google’s Project Loon: Will History Repeat Itself?

[Market Realist] – Google is currently in talks with several Indian telecom companies to launch Project Loon. The objective of this project is to provide affordable Internet access to remote areas by using balloons instead … Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $508.40B, started trading this morning at $736.64. A quick look at the market, the company’s stock traded between $733.52 and $741.26 and has traded between $515.18 and $789.87 over the past year. Google (GOOG) shares are currently priced at 21.31x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 20.60x earnings multiple for the same period. According to a consensus of 36 analysts, the earnings estimate of $7.94 per share would be $1.06 better than the year-ago quarter and a $0.14 sequential increase. Investors should also note that the full-year EPS estimate of $34.62 is a $5.04 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 $20.30 Billion. If realized, that would be a 17.61% increase over the year-ago quarter. Recently, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. The average price target for GOOG shares is $924.42, which is 25.49% 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) – Spotify is making a big switch — and it’s a huge win for Google