Shares of Google Inc (GOOGL) are down almost 5% to $531.87 in early trade after Citigroup (C) lowered its price target on the search giant’s shares to $652 from $684 following the company’s relatively good Q3 results. The investment bank said is keeping its ‘Buy’ rating on the name.
Google’s price target was also lowered to $675 from $725 at Pacific Crest, and to $600 from $670 at Bank of America (BAC).
On valuation measures, Google shares are currently priced at 27.73x this year’s forecasted earnings compared to the industry’s 4.74x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.20 and 16.95, respectively. Price/sales for the same period is 5.58 while EPS is $19.30. Currently there are 35 analysts that rate GOOGL a ‘Buy’, while 8 rate it a ‘Hold’. No analyst rates it a ‘Sell’. GOOGL has a median Wall Street price target of $670.00 with a high target of $750.00.
In the past 52 weeks, shares of Mountain View, California-based search giant have traded between a low of $487.49 and a high of $615.05. Shares are up 19.46% year-over-year ; down 4.28% year-to-date.
Analystst at Goldman Sachs (GS) are out with a report this morning downgrading shares of Urban Outfitters Inc. (URBN) with a ‘Neutral’ from ‘Buy’ rating. The firm currently has a $31, 12-month base case estimate on the stock, up from their previous price target of $44. Goldman also removed the name from America’s Buy list. Separately, URBN was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley (MS).
URBN shares recently lost $4.85 to $29.72. In the past 52 weeks, shares of Philadelphia, Pennsylvania-based retailer have traded between a low of $29.25 and a high of $40.67. Shares are down 5.21% year-over-year and 6.85% year-to-date.
Analysts at Canaccord downgraded Advanced Micro Devices, Inc. (AMD) from ‘Buy’ to ‘Hold’ based on weak guidance.
The target price for the semiconductor company is lowered to $2.75 from $4.50.
AMD shares recently gained $0.06 to $2.70. In the past 52 weeks, shares of Sunnyvale, California-based firm have traded between a low of $2.54 and a high of $4.80. Shares are down 35.45% year-over-year and 31.78% year-to-date.
SanDisk Corp. (SNDK) had its price target lowered to $110 from $120 by analysts at UBS on Friday.
SNDK shares recently lost $0.95 to $84.36. The stock is up more than 36.78% year-over-year and has gained roughly 21.66% year-to-date. In the past 52 weeks, shares of Milpitas, California-based company have traded between a low of $64.50 and a high of $108.77.
SanDisk Corp., which closed Thursday at $85.31, has a total market cap of $18.92B.