Google Inc (GOOG) Is Taking It To The Next Level

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Google Inc (GOOG) Is Taking It To The Next Level

By Carly Forster

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Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) might just be the largest technology mogul in the world.

Google in the News

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On June 26, Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) introduced a new version of their web browser, Chrome, being made available in the next Android update, called Android L. The new update will blend native apps and web tabs from chrome. It will be very similar to Apple inc. (NASDAQ:AAPL)’s Safari on iOS7 in the sense that recently downloaded apps will now appear in a card drawer. However, Android L will also show native apps as active web tabs. The update will be able to switch back and forth between the web browser and native apps.

A Financial Expert’s Opinion

On June 26, Topeka Capital analyst Victor Anthony reiterated a BUY rating for Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) with a $657 price target. He explained that the Google conference “showed how Google is expanding and strengthening its ecosystem through the Android operating system, and through platforms and wearable devices.” Anthony has rated Google 11 times, earning him a +12.7% average return on the stock.

Anthony’s Past Recommendations

Anthony has a history of making recommendations for big Internet moguls like Amazon.com, Inc. (NASDAQ:AMZN) and Facebook Inc (NASDAQ:FB), earning him a +19.7% average return on all stocks and a 69% success rate in making recommendations.

On June 5 of this year, Anthony reiterated a BUY rating for Amazon.com, Inc. (NASDAQ:AMZN) with a $430 price target. He noted, “Amazon is entering a crowded space, but we see an opportunity for Amazon to help grow the smartphone market. Amazon’s devices drive digital content sales, but more importantly, drive Prime subscriptions, whose members purchase more frequently and in greater dollar amounts than non-Prime members.” Since then, Amazon has gone up from $323.57 to $325.69 since this recomnendation, helped him earn a +7.2% average return on the stock.

In addition, on June 3 of this year, Anthony maintained a BUY rating for Facebook Inc (NASDAQ:FB) with an $80 price target. He reasoned, “From our checks we understand that Facebook is making a big push towards direct response advertising. This push, we believe, is putting Facebook on a long-term collision course with Google for the incremental online advertising dollar.” Anthony has a +54.4% average return on the stock.

However, Anthony has not always been correct with his recommendations. On March 25 of this year, he reiterated a BUY for Twitter Inc (NYSE:TWTR) with a $70 price target. He commented, “We do expect share price volatility tied to the final lock-up expiration given the relatively high valuation and investor concerns on user growth. However, as Twitter executes on MAU growth in particular, we expect demand for the shares to pick up.” Since then, Twitter has gone down from $47. 88 to $41.44. Overall, Anthony has a -12.6% average return on the stock, when taking into consideration all his Twitter recommendations.

Conclusion

Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) is definitely making waves in the technology world, but do you trust Anthony on his most recent recommendation based off his financial advice history?

Carly Forster writes about stock market news. She can be reached at Carly@tipranks.com

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