Bull’s Eye Report: Google (GOOG)

GOOG is showing a good buy point today

   

At StateoftheMarkets.com, we strive to “own the best and ignore the rest” in our equity portfolios. Toward this end, each day we search our database for a “top stock” (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical “set up” and a good entry point.

In short, when our equity team is looking to add a stock to one of our portfolios, the “bull’s eye” stock shown below is generally their first choice.

Company Symbol Industry Stock Rating YTD% Gain S.T. Stop Loss
Google GOOG Internet Software & Services 8.8 +22.41% $880.83

Why We Like the Stock:

Google (GOOG) is our most compelling buy today due to the fact that it is a top rated stock (in terms of earnings strength and company/industry performance) with a positive technical set-up. Stocks in the Internet space have been flashing buy signals this week, as we featured WebMD (WBMD) on Tuesday’s Bull’s Eye Report, and think Pandora Media (P) is a compelling buy as well. In a crowded sub-industry with competitors like Facebook (FB) and LinkedIn (LNKD) finally gaining some steam, GOOG still remains one of the most attractive stocks despite its stature as a well-known, major player.

Recently, the stock hit new all-time highs of $927.13 on July 16 before pulling back in the weeks following. Since then, the stock has based and bounced right off of the $880 level, currently in the process of crossing above its major short-term moving averages. We like the tech giant at current prices for a run back to all-time highs, with a clear stop at the $880 mark.

We Would Be Buyers:

At the current price (~$901.99), or on a pullback to the 50-day moving average ($887.86).

Company Profile:

Google Inc. is a global technology company focused on improving the ways people connect with information. The company generates revenue primarily by delivering online advertising. In 2013, Google acquired Wavii, Makani Power and Waze, as well as an undisclosed minority stake in LendingClub Corp.

Stock Rating: 8.8

The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 – 10 with 10 being the highest.

Google – Last Three Months

goog 1 Bull's Eye Report: Google (GOOG)

Google – Last 12 Months

goog 2 Bull's Eye Report: Google (GOOG)

Google – Last Five Years

goog 3 Bull's Eye Report: Google (GOOG)
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 At the time of publication the editor and affiliated companies own the following positions: None

Note: Positions may be bought or sold while this publication is in circulation without notice.


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