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Analysts Cut Google Price Target to $675, Sergey Brin Unloads Shares

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Research analysts at Evercore Partners Inc. lowered their price target on shares of Google from $725.00 to $675.00 in a report released on Thursday, while a disclosure revealed that Sergey Brin had sold over 83, 000 shares of the stock on the open market earlier in the week.

Evercore currently has a “buy” rating on the stock. The firm’s target price suggests a potential upside of 34.70% from the current price, InterCooler said.

A number of other firms have also recently commented on the stock. Analysts at Stifel Nicolaus downgraded shares of Google to a “hold” rating in a research note on Thursday. Separately, analysts at RBC Capital reiterated a “buy” rating on shares of Google in a research note on Monday, December 29. Finally, analysts at Pivotal Research upgraded shares of Google from a “hold” rating to a “buy” rating in a research note on December 17, the website said.

Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Google has a consensus rating of “Buy” and a consensus target price of $736.27, InterCooler said.

Google opened at 501.10 on Thursday. Google has a 1-year low of $489.00 and a 1-year high of $604.83. The stock’s 50-day moving average is $526.6 and its 200-day moving average is $558.6, while the company has a market cap of $339.9 billion and a price-to-earnings ratio of 26.42, the website said.

Google last released its earnings data on Thursday, October 16th. The company reported $6.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $6.55 by $0.20. Analysts expect that Google will post $25.65 EPS for the current fiscal year, InterCooler said.

In other Google news, major shareholder Sergey Brin sold 83, 294 shares of the stock on the open market in a transaction that occurred on Tuesday, January 6. The shares were sold at an average price of $507.91, for a total value of $42, 305, 855.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, the website said.

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