According to the investor and CNBC contributor, Google Inc (NASDAQ:GOOGL) has “the best risk reward” when he examines other technology companies with huge market capitalizations. In fact, he says this is even true when you broaden that category to include all companies with big market capitalizations.
Even after Thursday’s afterhours move of 5%, Seymour notes, the Google Inc (NASDAQ:GOOGL) stock continues to be attractive to him.
Seymour, who is —-, says that he sees the stock’s bottom now at about $520 per share. While he also sees the stock possibly having a 10% downside, the upside is much higher, he says, as he pegs it to be at about 20% to 30% just based on technical. On fundamentals, the company is at about 18 times multiple, he says which makes it “very, very interesting,” he says.
As for fellow CNBC Fast Money trader Guy Adami, he says that Seymour is right and that Google Inc (NASDAQ:GOOGL) is a “mixed bag”.
“I think that is why you are getting a relief rally. I think it trades up to $600 which is a level we saw in early 2014 and we’ll see what happens there. If it fails there, which it could, you could see a move right back down to the $525 [per share] level we spent most of this year at,” Adami tells his Fast Money colleagues.
On Thursday, the web search and advertisement giant reported revenue of $17.26 billion, up 12% year-over-year from $15.42 billion. Net income was reported at $3.59 billion, or $5.20 per share, up from $3.45 billion, or $5.04 per share in the year-ago quarter. If items comprising of stock options and related tax benefits are excluded, Google’s bottom line was at $6.57 per share, up from $6.27 a year ago.
Boykin Curry’s Eagle Capital Management owned 774,750 Class A Google Inc (NASDAQ:GOOGL) shares by the end of 4Q2014.
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