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Google Stock May Have A Date With $500

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As shares of GOOG stay above $400, one analyst sees another mark glittering on the horizon: $500 per share and a market capitalization of around $150 billion.

Icarus (ik-uh-ruhs):
    In classical mythology, the son of Daedalus. Icarus died tragically while using artificial wings, invented by his father, to escape from the Labyrinth. When Icarus flew too close to the sun, it melted the wax that held the wings together, and he fell into the sea.
-- from Answers.com

How high can Google fly?

UBS analyst Benjamin Schachter told AP $500 isn’t out of the question:

“Based on Google’s current products and trends, the stock remains undervalued,” Schachter said in a report. “Even if most of its future products fail, the underlying fundamentals of its current offerings are solid.”


A survey of 22 analysts by Thomson Financial found a range of estimates for Google shares between $255 and $475 – except for Schacter’s bright-skies forecast of $500.

The prospects of the new Google Base service coupled with the smashing financials Google reported for the third quarter gave the stock its current lofty placement, analysts said.

Another place where Google Base could help will be with the company’s Froogle service. The comparison shopping site lags far behind category leaders Shopzilla and Shopping.com, but local results for merchandise from Google Base appearing in Froogle may help it build traffic.

David Utter is a staff writer for WebProNews covering technology and business. Email him here.

Google Stock May Have A Date With $500
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