Google bashes through $400 barrier: where is it headed?

Posted Sep 14th 2006 1:55PM by Sarah Gilbert
Filed under: Major Movement, Good news, Google (GOOG)

Remember the spring? Ahh, the spring, when trees burst out in bloom and so many were predicting GOOG to hit $480 by the end of the year. Well, summer came, and with it, dips down into the doldrums of the $370s, the $360s even (yikes!).

Shareholders in Google Inc. (NASDAQ:GOOG) can breathe in the heady air of the $400 stratosphere again, as yesterday GOOG burst through the $400 line for the first time since mid-July. Now analysts are all saying "buy!" (Jordan Rohan, RBC Capital Markets) and "$500 a share" (Justin Post, Merrill Lynch). At last check, the stock was at $405.61, or thereabouts.

Some, of course, aren't so thrilled. "This is like a $37 stock going to $40," says UBS' Benjamin Schachter, offering up his own price target of $450. I wouldn't complain, Benjamin: if a buyer at $370 sold at $450, wouldn't that buyer still be happy? I know I would, were the buyer me. So what's your price target?

Tags: $400, $400 barrier, $400Barrier, 400 barrier, 400Barrier, goog, goog $400, goog 400, Goog$400, Goog400, google, google 400, Google400

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Reader Comments (Page 1 of 1)

9-14-2006 @ 3:09PM

John said...

$600.00 when they announce 4th quarter profits in January of 2007.

9-14-2006 @ 3:41PM

Brenda said...

Ref. comment #1 at Google's $600.00 price after 4th quarter announcement and my initial response was to laugh; but, we may all be surprised and quite possibly comment #1 could be close!

9-14-2006 @ 3:57PM

J. Towers said...

Target price of this stock should be at least $500
based on end of year reports. Google is doing everything right!

9-15-2006 @ 10:39AM

Skip Peters said...

$10,000....It is going to go up forever! It is the worlds best investment other than condos in South Beach (hurry and get one with your GOOG profits). Not to mention the lying, cheating, sociopath on CNBC likes it, so it must be great.