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As I write this, Google Inc. (GOOG) shares are trading at $600.25, up 1.2%. Google stock has been on fire, up 95% year-to-date, and analysts seem to just keep pumping it up.Just Monday, Jefferies & Co. analyst Youssef Squali upped Google's share price target to $695. His reasoning has mostly to do with Google's search business. He sees rising cost per click due to strong demand in the U.S. and Europe; increases reported by Yahoo! (YHOO) and AOL (AOL) of their revenue per search and CPM that Google would also experience; and expected growth in online ad prices due to e-commerce growth.
Meanwhile, on Tuesday, Cramer raised his target price on Google to $750. Google is a better company today than it was in 2007, Cramer said, adding that he expects a 21% long-term growth rate.
And then there is Google Android, not to mention the Google phone that is expected to reach markets in 2010. The Android itself could have an impact on smart phone makers, but the Google phone, some say, may even spell trouble to Apple Inc.'s (AAPL) iPhone -- the first phone that may become a threat. Not only that, but while Apple holds many telcos hostage with their distribution agreements, Google plans to circumvent all that and bypass telcos altogether.
Don't think that while all that is happening Google is neglecting its core strength. The internet search giant is constantly gaining search market share.
So is it too late to join the ride? Obviously, several analysts don't believe so and they may be right.
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