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.
Cramer takes GOOG target to $560
Posted Oct 19th 2006 6:03PM by Jon Ogg
Filed under: After the Bell, Major Movement, Analyst Reports, Internet, Google (GOOG)
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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.