Cramer reiterates that GOOG shares to reach $500

The consensus continues to center around where GOOG shares are headed these days -- and a large handful of analysts have said that GOOG is headed to $500 per share soon. Add "Mad Money's" Jim Cramer to that list, who recently said that Google's price/multiple ratio makes the company a cheap buy at $402/share (GOOG shares are up sharply today in mid-day trading).

I'm still not convinced that Google should be valued that way it is, even with its price/multiple being where it is. But I'll have to admit, it seems like every single day Google is putting its hands into the front and back pockets of so many industries that this company just cannot do any wrong. After all, by having loads of lucrative partnerships and with the company trying feverishly to expand its mantra of "consumer relevant advertising" to all reaches of the globe -- Internet, radio and possibly TV -- Google may just be on its way to justification of where the company's market cap is, which is over $125 billion today.

Many a commenter has accused me of being a "Google basher" since I try to examine both the bad and good aspects of GOOG. And yes *every* company has a bad and good side, this is reality. Google, even with the "do no evil" corporate slogan, does have things that concern me, but also equally (and moreso, sometimes) has great products and partnerships that continue to make the company a leader in so many fields it's becoming mind-boggling.