Google's share price target raised to $900

Posted Nov 21st 2007 11:40AM by Brian White
Filed under: Analyst Upgrades and Downgrades, Google (GOOG)

Google Inc.'s (NASDAQ: GOOG) share price has been on a roller coaster ride this year. Just over a month ago, the company's shares stood at their highest-ever level, reaching right under $750. In a month, shares settled down into the low $600s and closed yesterday right over $643. What a ride it has been -- from the $400s to the mid-$700s all in one year.

So, it comes as no surprise that yesterday a Credit Suisse analyst has raised his price target on Google shares to $900, representing the highest official price target on Wall Street. The reasons behind the target include the usual suspects: Google will realize gains as advertisers move increasingly online. Yes, that makes sense.

The unknown is the amount Google will grow based on that coming influx of more ad dollars. Of course, the company has had no problems growing substantially every single quarter its been a public company. so why should it slow now?

The analyst, Heath P. Terry, said Google is the best internet investment as all advertising goes digital. Although Google's ad revenue "all eggs in one basket" approach has been hailed as a one-trick pony, apparently Terry thinks the company can keep running the trick over and over again. Do you agree?

Tags: analyst upgrade, AnalystUpgrade, featured, GOOG, Google upgrade, Google, Inc., Google,Inc., GoogleUpgrade

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Reader Comments (Page 1 of 1)

11-21-2007 @ 12:11PM

John said...

I definitely agree on that,but in the long run $900 may be low. They are hiring the brightest and the best and their organizational structure is revolutionary.The advertising gives them the base to acquirre an incubator of the most forward thinking companies being created.Their potential is a big as cyber space and all space itself.

11-21-2007 @ 1:14PM

RB said...

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Happy Thanksgiving to all !!

11-21-2007 @ 1:25PM

Terry said...

I think that Google has a winning formula. They hire the best and the brightest, they take great care of their employees and they are a cutting edge company. I think $900 per share is a conservative estimate. The analysts don't know how to judge the potential of this company, since it defies most historical business plans. The analysts have to look to the future to judge the potential for this company. They need to get out their "crystal ball" and give stockholders a better estimate of future share price.

11-21-2007 @ 2:36PM

Gumby said...

Many stocks like Dell, Microsoft, Altira, McDonalds and GE went up by 2000-40,000% over the years. Google has gone up only 600%, give it a break... Google still has only 230 million shares in float against billions and bilions floated around by the above. Google is still young and eager like a beaver hard at work building a big dam!