Google Shares Forecasted to Continue Rise
With the exception of a minor dip on the 14th and 15th of August, Google Inc. shares have been steadily rising since 12th August and this trend is expected to continue. On Wednesday morning shares were trading at $586.86, a daily increase of 0.81% and significantly higher than the monthly low of $562.73.The 43 analysts who offered a one year price forecast have a median target of $670.00; their highest estimate is $750 while the lowest is $570. The average estimate is a 14.17% increase from the last estimate of $586.86.
The increase in share price comes on the back of various announcements from the company. Last week Google announced the roll-out of its latest healthcare app development kit. The kit is designed to help software developers build digital medical tools.
The company also made headlines with news of its attempts to develop a contact lens that monitors diabetics’ glucose levels.
Google has also entered into a partnership with Mesosphere, a company that is developing tools for installing software on any computing infrastructure. The partnership will see Mesosphere’s tools integrated into Google’s cloud structure.