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Google Sets New Record

Google`s stock price set a new record Friday, making a standout earnings report Thursday, surpassing the expectations of practically every outsider. A large group of analysts hurried to raise their stock price predictions, most to $400 a share or higher during the next year.

Google`s stock vaulted 12.1 percent, or $36.70 a share, to $339.90, four times the $85 price of its initial public offering just over a year ago. At one point during the day, Google`s shares hit $346.43 on the Nasdaq Stock Market. Google Inc.`s market value briefly surpassed $100 billion for the first time Friday, its stock scaling new heights after an earnings and revenue spike that astonished investors.

Google now ranks fifth among technology companies behind Microsoft, Intel, IBM and Cisco Systems. Many analysts raised their price targets for Google?s shares even higher. There are now expectations for the shares to reach as high as $445 within the next 12 months.