Google+ May Add 20M Global Users This Quarter: Analyst

Google's social networking site Google+ may see 20 million new signups this quarter and it would add +You button to YouTube this year, according to an analyst from Global Equities Research.

Google continues to gain momentum in Social Networking with Google Plus and may add additional 20 million active users to Google Plus in this quarter, thereby bringing total active users to more than 60 million, analyst Trip Chowdhry wrote in a note to clients.

Chowdhry said that hangouts with Shah Rukh Khan, Kareena Kapoor, Dalai Lama, Desmond Tutu seem to draw signups to Google+.

Google+ hangouts with Bollywood actor Shah Rukh Khan and Kareena Kapoor probably added a million signups on Oct. 11 2011. Out of that, probably 50 percent signups coming from India and remaining 50 percent from the rest of the world.

Google+ hangouts with Dalai Lama and Desmond Tutu probably added 500K signups Oct. 8 2011, and probably 10 percent sign ups coming from U.S., about 15 percent signups from Africa, about 50 percent signups from Europe and about 25 percent signups from India.

Chowdhry has an overweight rating and $700 price target on Google.