Jim Cramer isn't shy about his expectations. Some of us on BloggingStocks pooh-poohed his earlier calls but it seems he knows of what he speaks! Today's third quarter earnings have Google Inc. (NASDAQ:GOOG) up big and, in comments on MAD MONEY tonight, Cramer touted his Google call. It's up $35 in after-hours trading, and he raised his target from $500 to $560, based on $14 per share and a 40x multiple.
GOOG traded up 7% to $457+ in after-hours trading after blowing away the street expectations.
Cramer, ever the showman, came out in the show's opening wearing GOOG in black marker on his forehead and on his knuckles.
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Reader Comments (Page 1 of 1)
10-19-2006 @ 7:38PM
Dennis said...
GOOG is great short term 4-12 month play for investment gains, but do not see it as a long term hold. Do expect it to gain another $100 to current price, but expect the future to hold a fast and hard landing once the bubble bursts.
10-19-2006 @ 7:45PM
Brenda Veach said...
Ref: Dennis comments on Google. What do you base your comments on and do you have a "crystal ball" that only you can see that you can predict your assumptions that Google is a short term play or is that how you have played Google? Soooooooo far since it's inception the company is probably one of the best "growth" companies in the market.
10-19-2006 @ 11:05PM
Carl Ersoy said...
There is no buble to burst for Google because there is no strong enough competition to make a negative impact on company's market share.
10-20-2006 @ 9:00AM
MARVIN said...
WHEN IS GOOG GOING TO SPLIT.