Fast Money

Monday - Friday, 5:00 - 6:00 PM ET
Fast Money

Google To Hit $500 Next Week?

Tech investors are closely watching the price action in Google. Will shares hit the psychologically important $500 level next week?

Over the past 6 months shares of this Internet darling have climbed more than 50% as investors bet the Search giant will be a winner as the economy starts to improve.

Just this week Collins Stewart reiterated its 'Buy' on Google and lifted its price target to $600 from $500.

But that kind of bullish sentiment isn’t new. Last month the website Seeking Alpha wrote, “On Google's fifth birthday, Goldman Sachs gave them a nice gift by adding them to their conviction buy list. (We) have been bullish on Google for a very long time.”

So is this the week that Google crosses the $500 threshold?

For insights we turned to Citigroup analyst Mark Mahaney, the #1 internet analyst as ranked by Institutional Investor.

VIDEO0:0000:00
Google to Hit $500 Next Week?

Maybe not next week but "I'd be very surprised if Google did not hit $500 by the end of the year," Maheny tells us. In fact he thinks it could be much higher as we approach 2010.

That's largely due to his belief that Google should be an early beneficiary as companies such as Toyota and Procter & Gamble make advertising commitments in Q4. "That they're not going to spend a significant amount of that online is hard to believe."

Mahaney rates Google as a 'Buy' with a $580 price target.



______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to .

Trader disclosure: On Sept. 18, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (NOK); Finerman's Firm Owns (BAC) Preferred Shares And (BAC), Finerman Owns (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO); Finerman's Firm Owns (APC); Finerman's Firm Is Short (BWA); Finerman's Firm And Finerman Own (RIG); Finerman's Firm Owns (WMT); Finerman's Firm Owns (ARO); Terranova Owns (AA) Puts; Terranova Owns (CAT) Puts; Terranova Owns U.S. Dollar Futures; Terranova Is Short (WFC), (HST), (JWN), (FCX)

GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC

For Joe Terranova

Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE)
Virtus Diversifier PHOLIO Owns (DBC)
Virtus Diversifier PHOLIO Owns (DBV)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of  (DLR)
Virtus Investment Partners Owns More Than 1% Of  (EXR)
Virtus Investment Partners Owns More Than 1% Of  (IGE)
Virtus Investment Partners Owns More Than 1% Of  (DBV)
Virtus Investment Partners Owns More Than 1% Of  (SKT)
Virtus Investment Partners Owns More Than 1% Of  (TNB)
Virtus Investment Partners Owns More Than 1% Of  (UA)
Virtus Investment Partners Owns More Than 1% Of  (CLB)

For Mark Mahaney
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (YHOO)
Citigroup Global Markets Or Affiliate In Past 12 Months Received Non-Investment Banking Compensation From (YHOO), (GOOG), (AMZN)
(YHOO), (GOOG), (AMZN) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Securities-Related)
(YHOO), (GOOG), (AMZN) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Non-Securities Related)
Citigroup Global Markets Is A Market Maker In (YHOO), (GOOG), (AMZN)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (YHOO)
Citigroup Global Markets Or Affiliates Owns 2% Or More Of (YHOO)

For Lee Amaitis
Cantor Gaming Provides Technology For Las Vegas Sands
Edeck and 'in-running' wagering is only legal in Nevada
Cantor Gaming is an affiliate of Cantor Fitzgerald