Google Inc. (NASDAQ:GOOG) intends to grab vast majority of Microsoft (NASDAQ:MSFT) customers
Google Inc. (NASDAQ:GOOG) has set a new goal. The company’s head of enterprise Amit Singh said in an interview with AllThingsD that the Google Docs platform has the ability to steal the maximum number of Office users from Microsoft (NASDAQ:MSFT) who only use basic functionality of Office.
He claims they have made tremendous progress in the last year, if we look at the depth of the performance of Docs, both in the core features and in the desktop fidelity. He told that their target is to take the 90 percent of customers away from the software giant who don’t need to have the most advanced features of Office.
Singh added that the gap is closing between the features provided by cloud-based Document, Presentation and Spreadsheets packages and Microsoft’s Word, PowerPoint and Excel software. Moreover, the acquisition of QuickOffice made in June will help Google fill the holes.
How the stock is trending now?
Shares of Google trimmed early declines today to hit as high as $712.88. The stock traded down -0.86% during last trading session, closing at $709.50. The share price of GOOG traded Monday in a range of $707.47 to $715.18. The company now has a market value of $233.14 billion.
Are you optimistic or bullish on the near-term price outlook?
The stock, after recent close, is 2.72% up their SMA 50 and 8.38% off the 52-week high. The worst hit in its 52 week range is $556.52 per share, with $774.38 as its 52 week best price that compares with a latest closing price of $709.50. Its latest closing price has a distance of +1.80% from SMA20 and is 9.43% up than SMA200.
Watch the stock’s performance in different time span.
With recent gain, the year-to-date (YTD) performance reflected a 9.85% gain above last year. During the past month the stock advanced 6.22%, bringing three-month performance to -3.34% and six-month performance to +24.15%.
Do you know how risky is this stock?
For this company, beta value at 1.08 represents it is more volatile to the shift in the market. If we take a look on its volatility, 1.24% was seen in a week and for the month it was 1.74%.
What does equity analysts say?
For the stock, mean recommendation this week is 2.0. Sharing price target summary; nearly 34 brokerages have a mean PT as $798.94 and median PT of $800.00 while the highest price target set by those rating agencies was $910.00 and lowest PT was $675.00