In the latest development in an ongoing battle for mobile users of office software, Google Inc (NASDAQ:GOOG) came up with a new offering. The company has recently declared that it has released a free version of the Quickoffice for iPad app for all of its paying business customers. With the new app, you can view, edit and create Microsoft Word, Excel and PowerPoint files (’97 – ’10) and use Google Drive to store files in the cloud. More than that, Google (GOOG) claims Android and iOS versions are on the way.
Google had bought Quickoffice, a company best known for its Microsoft Office-compatible mobile productivity suite, earlier in 2012 and it rapidly started to put some of the company’s knowledge to bring something new for Google Apps users.[article_detail_ad_1]
Quickoffice’s conversion technology is now being used in Google Docs, Sheets and Slides to convert Microsoft Word, Excel and PowerPoint. The company believes the new system to retain a lot of information that was lost in the past in the conversion process, including charts, pivot tables and other Office features.
Make an opinion on the latest price movement of Google stock using some technical indicators
The Google stock closed at $720.11, down -0.96 points or -0.13% from previous close and at a distance of +4.47% from 20-day simple moving average. In the last trading session, the stock’s price moved 11.35% above its 200 day moving average, changing hands as low as $716.68 per share. The stock is currently trading 3.92% up its SMA 50.
How well the stock has been performing?
The percentage change in the price over the past fifty two weeks remained at +14.36%. The price range in the same period had a highest hit of $774.38 on Oct 05, 2012 while lowest level during that period was $556.52 on Jun 14, 2011. The 1-year target price estimate, which is the median price target, as set by analysts covering the stock is $800.00. The stock in last 12 months gained 15.04% and has advanced 11.49% since the beginning of this year.
Does stock market trend influences this stock?
This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.08. To measure price-variation, we found this stock’s volatility over a week period was 1.83% and for the month was 1.77%.
What is Wall Street analysts’ recommendation on this stock?
The analyst mean recommendation for this week has been 2.0, same as was in the last week. The price target of $675.00 was the lowest while the highest price target was set as $910.00, according to 34 analysts surveyed by Thomson Reuters.
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