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Google Inc. Trading in a Range

Aug 06 2012

English: NASDAQ in Times Square, New York City...

English: NASDAQ in Times Square, New York City, USA. (Photo credit: Wikipedia)

Google’s main business is providing a large database of indexed web pages from across the Internet, the largest database of any other organization. It also provides a number of free and premium services to online clients including advertisement and placement.

The Market Cap for Google has grown to exceed $210 Billion on the Nasdaq stock exchange. The company has never offered a dividend as many technology investors are investing for appreciation instead of income. The company has no investor related events approaching in the near future.

The company has beat earning expectations for the past 2 quarters although just barely. Their September 2012 estimate has fallen over the past 90 days, making a similar beat likely. Their estimate has fallen steadily from 10.93 a share to 10.59 a share. This still represents a 9% growth rate for the quarter, and an 18% growth rate for the year. The revenue growth for the quarter comes in  a lot stronger at 58%. Their current PEG ration is 0.95 while their P/E ratio is 15.08. The market has already priced in their slower growth and the PEG ratio demonstrates that they are priced just about right for their current earnings growth.

Google recently announced a new set of products that they will be discontinuing, in this article. The company tends to release new products and discontinue products on a regular basis. Users of the discontinued products tend to be unhappy with the decisions but the company tries to focus on its core products and more success areas.

The stock for Google was flat today and there doesn’t seem to be a long term trend in the stock’s options with a slight bias to the upside. The six month chart shows a range of movement between 655 and 560. There could be some upside in the near future but a return to 50% of the recent move, 610, is more likely.

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