Boston, MA 06/25/2013 (wallstreetpr) – The analysts at JP Morgan Chase and Co had recently issued a report stating that the price target of Google Inc. (NASDAQ:GOOG) had been increased to more than $1000 per share. The analysts had reiterated their overweight rating for the leading search engine services provider and had also fixed up a price target at $1025 per share.
The newly introduced Enhanced Campaigns advertising platform of Google Inc. (NASDAQ:GOOG) proves to be highly attractive and had resulted in a positive impact with the company’s pricing and search spending of consumers presenting significant growth. Increasing competition, especially in the area od mobile advertising proves to increase the cost per click for the search engine services provided by Google Inc. (NASDAQ:GOOG).
As a result, the analysts at JP Morgan Chase and Co had increased their estimates for the growth in cost per click for Google Inc. (NASDAQ:GOOG) to negative 2.7 percent for this year and positive 0.2 percent for the next year. The shares of the world’s leading search engine services provider had recently been declining with significant trading volumes.
The share prices of Google Inc. (NASDAQ:GOOG) had declined by 1.26 percent to close at $869.79 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $863.25 to $876.32 per share during the day, after opening at $871.88 per share. The shares of Google Inc. (NASDAQ:GOOG) had recorded 52 week low price level at $557.21 per share and 52 week high price level at $920.60 per share.
Google Inc. (NASDAQ:GOOG) had witnessed more than average trading volume at 3.02 million shares on Monday, while the average trading volume for the company is at 2.39 million shares per day. The company presently holds 331.77 million shares outstanding in the market with an institutional ownership at 71 percent of the holdings.
