Company Update: Google Inc (NASDAQ:GOOG) – Google Pushes Back Against Microsoft’s Android Success

[at Forbes] – Google has updated the Gmail client on Android so every Android device running the app will support Microsoft Exchange. Although Google’s Gmail app previously supported the well-loved protocol, this feature was only available on Nexus devices, that is no longer the case. Once the updated app rolls out across the world via the Google Play store this week, every Android handset will have the ability to sync to an Exchange server. Read more on this. Alphabet Inc. (GOOG) , with a current market cap of $492.02B, started trading this morning at $725.42. Looking at the stock, its one day range is $716.18 to $725.77 with the price of the stock fluctuating between $515.18 to $789.87 over the last 52 weeks. Priced at 21.37x this year’s forecasted earnings, GOOG shares are relatively expensive compared to the industry’s 16.73x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 38 sell-side analysts are looking at $8.07 per share, which would be $1.08 better than the year-ago quarter and a $0.05 sequential decrease. Investors should also note that the full-year EPS estimate of $33.84 is a $4.26 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.78 Billion. If reported, that would be a 17.20% increase over the year-ago quarter. In terms of ratings, 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 27.49% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – 420 Million Android Devices Don’t Get Security Updates, Google Reports Company Update (NASDAQ:GOOG): Like Apple, Google Android Said Ordered To Unlock Smartphones Company Update (NASDAQ:GOOG): Google gives peek at new Android system