Two analysts of Standard & Poor have changed their grade of Google stock to the "sell" category. According to The Street article,
In his note to clients, Devitt argues that Google's share price -- it fetched $453 Wednesday morning after a Yahoo! (YHOO:Nasdaq - commentary - research - Cramer's Take)-inspired 3% drop -- isn't justified by the fundamentals of the business.
Although this is a reaction to the Yahoo disappointing results announced today, this is not the first time that analysts said that Google stock is overvalued. Although at some point the price will be high enough, there is no clear indication that this is happening at this point -- of course this is some thing that only the market can answer.