Google Reaches More Than $600 Per Share

October 9th, 2007 at 12:00 am
 


Google logo

As if being the largest and most profitable web business on the planet was just not enough, Google’s stocks rose about $16 per share yesterday and now spiked at $623 per share which translates into a company valuation at about $188 Billion.

Josh Catone of RadWriteWeb reports that "While Henry Blodget’s $750 billion target market cap may be far fetched, Google’s stock price continues to rise with few signs of slowing down. Still a darling of the Valley and still trouncing all comers in its primary (and most profitable) business (search), Google has pleased investors by consistently beating earnings estimates since going public in 2004. The company’s stock has risen 30% so far this year and earnings are expected to rise 40% according to Thompson Financial."

Furthermore, Jonathan Dignman of GoogleInside reports, "Lehman Brothers Holdings Inc. has announced that they expect Google’s stock to surpass the $700 barrier. This will be the largest and longest running stock hype in history."

All in all, Google is a freight train that will not seem to slow down and continue to gain speed. How much will they continue to grow? Estimations go as high as $2000 per share but with Google acquiring and creating new technologies everyday, one can only imagine. Om Malik has an interesting post about what you can buy with Google’s $188 Billion valuation.