Stock Update (NASDAQ:GOOG): In Annual Letter, Sundar Pichai Says Computing, And Google, Will Be Driven By Artificial Intelligence

[at Forbes] – Sundar Pichai, CEO of Google. (Photo by Justin Sullivan/Getty Images) Back in April 2004, when Larry Page and Sergey Brin wrote their first, and now famous, Founders’ Letter (it opened with the bold-but-still-true: “Google is not a conventional company. We do not intend to become one.”) Sundar Pichai was a new employee who Read more on this. Alphabet Inc. (GOOG) , valued at $482.13B, began trading this morning at $708.26. Looking at the equity, the company’s one day range is $701.88 to $714.17 and has traded between $515.18 and $789.87 over the past 12 months. GOOG shares are currently priced at 20.87x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.73x earnings multiple for the same period. 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 $33.82 is a $4.24 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. 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 by the analysts covering the stock is $924.83, which is 30.58% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Stock Update (NASDAQ:GOOG): Google CEO Pichai Receives Record $199 Million Stock Grant Market Update: Google Inc (NASDAQ:GOOG) – Googler: Top execs like Larry Page and Sundar Pichai are all around HQ — but good luck actually talking to them Market Update (NASDAQ:GOOG): Google will let artificial intelligence reply to your email