Bull’s Eye Report: Google (GOOG)

GOOG is at a great 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 Inc GOOG Internet Software & Services 8.2 +21.80% $853.81

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. While ‘competitors’ like Yahoo! (YHOO) and LinkedIn (LNKD) have also had good years and display technical strength, Google is really in a class of its own. After shaky years in 2010 and 2011, GOOG righted the ship in June of 2012 and has been uptrending ever since. At current prices, GOOG is sitting comfortably above its 5- and 50-day moving averages, which is a bullish sign in the short-term. The stock recently traded north of $900 in mid-May, and again in mid-June, so there is some decent upside here in the immediate future. We also like GOOG for its technical resiliency. Despite being a large cap growth stock, GOOG has held up considerably well through the destruction since the FOMC announcement last week. We like the technical setup, we like the company itself, and we would be buyers of GOOG at current prices for a run back above $900.

We Would Be Buyers:

At the current price (~$879.50).

Company Profile:

Google is a global technology company focused on improving the ways people connect with information. The company generates revenue primarily by delivering online advertising. Businesses use its AdWords program to promote their products and services with targeted advertising. In addition, the third parties that comprise the Google Network use its AdSense program to deliver relevant advertisements that generate revenue.

Stock Rating: 8.2

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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