Google’s share price has taken a beating lately, due to escalating costs (primarily R&D) and the CEO switch. About a year ago I wrote that Google, while a well run and highly profitable company, was too expensive. At current (8 April 2011) P/E under 20, and with both increasing revenue and forward thinking R&D, I think its now time to to reverse course, and call GOOG as a buy and hold.

Please note: the author does not currently hold a position in GOOG, and is not making a recommendation regarding other people’s investment activities!