Google Inc (NASDAQ:GOOGL) is still “very cheap,” Ivan Feinseth, CIO at Tigress Asset Management, remarked in a discussion about the technology giant on CNBC. The comment about the internet search and advertising giant comes as the company has recently celebrated a decade after its initial public offering on August 19, 2004, when the company initially traded at $85 per share. In contrast, the stock closed near the $600 mark on Tuesday.
According to Feinseth, whose firm has a ‘Buy’ rating on Google Inc (NASDAQ:GOOGL), the company still has a lot of potential because it dominates a number of key areas including search and mobile operating platforms.
“As we move to this connected ‘Internet of Things,’ it’s the mobile platforms that these things run on. […] Google is a relatively cheap stock. If you look at their excess cash, their growth, their cash flow, the stock is not expensive at all; it’s very cheap,” he explained.
If there’s one thing that people should worry about should they see it happening to Google Inc (NASDAQ:GOOGL), it is if the company lost significant market share in search to other search engines such as that of Yahoo! Inc. (NASDAQ:YHOO)’s or Microsoft Corporation (NASDAQ:MSFT)’s Bing, Feinseth added.
The bullish remarks about Google Inc (NASDAQ:GOOGL) from the Tigress Asset Management executive follows other positive comments about the stock giant from other industry observers. Robert Peck, managing director and internet analyst at SunTrust Robinson Humphrey said in another interview on CNBC that Google’s diversified expansion is a good thing especially for investors.
Scott Kesler, senior director of S&P Capital IQ, is another bullish analyst on Google Inc (NASDAQ:GOOGL). He said in an interview that investors should not be worried about what may be perceived as “drunken spending” by the tech giant because Google sees and bets for the long term. Author David Vise expanded on this though telling CNBC that the next decade of the technology giant will be defined by its plays in the personal health and self-driving cars space.
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