According to sources, reported by Cnet, Google's (NASDAQ:GOOG) YouTube is in negotiations with Universal Music Group, Sony Music Entertainment (NYSE:SNE) and Citi-owned (NYSE:C) EMI Music about renewing its music licenses and may have already agreed to increase its licensing fees.
Google (NASDAQ:GOOG) has potential upside of 16.8% based on a current price of $625.07 and an average consensus analyst price target of $730.3.
Google is currently above its 50-day moving average (MA) of $616.00 and above its 200-day of $561.35.
In the last five trading sessions, the 50-day MA has climbed 0.41% while the 200-day MA has risen 0.16%.
Google Inc. is a global technology company that provides a web based search engine through its website. The Company offers a wide range of search options, including web, image, groups, directory, and news searches.
