NEW YORK (TheStreet) -- Shares of Google (GOOGL) - Get Report are up 0.72% to $563.90 in pre-market trading today after the company said it is in early stages of negotiations to buy Indian mobile ad firm InMobi, sources told the Wall Street Journal, as the U.S. company looks to strengthen its presence in the mobile advertising space.

"Google has expressed interest and has reached out" but whether or not the Indian company would sell itself is still uncertain, the source said. Google declined comment.

InMobi is one of the biggest ad networks in India, offering advertising services on mobile websites based on the profiles and behaviors of users of those sites. The company has offices across 17 countries with more than 900 employees and is valued at about $2.5 billion, according to a Dow Jones VentureSource analysis.

The acquisition "would give Google an even stronger presence in the mobile ad space, since InMobi is not only a fast-growing competitor but has made significant traction in emerging markets," Neha Dharia, a senior analyst with telecommunications consulting firm Ovum, told the Journal.

"I think people like this Indian deal," TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio said. "They like the growth prospects of India."

"In fact, when I saw this morning that the CFO Patrick Pichette was retiring to spend more time with his family, I was concerned that the stock could get creamed. Maybe this acted as a nice counterbalance. Oh, and judging by his departure letter it's for real. The guy really does want to spend more time with his family. Good for him, he will be missed," Cramer added.

"But I hope the next guy has more cost discipline because that's what could take this stock to $600. That, plus some sign that they will monetize Youtube, which has been the biggest missed opportunity on the web," Cramer said.

Insight from TheStreet's Research Team:

Google is a core holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. During the most recent weekly roundup, this is what Jim Cramer, Portfolio Manager and Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock:

Shares had a stellar week following a crucial upgrade and a bevy of positive analyst commentary. On Monday, Bank of America Merrill Lynch upgraded Google to a buy (with a $650 price target) predicated on several points.

The first was early signs of renewed product momentum (Google I/O in May might be more impactful than last year).

Second was accelerating gross profit growth in the fourth quarter and the opportunity for upside in the second half of the year with app search ads.

Third, was low street earnings estimates and, finally, the attractive multiple vs. the S&P 500 (8% premium vs. 22% average). We continue to see great value in Google shares at 18.5x forward estimates, slightly below historical with double- digit earnings and revenue growth and industry dominance.

We now look for any news about its cash hoard and whether it will announce a distribution of some sort -- something hinted at on the 4Q call. Our target is $600.

- Jim Cramer and Jack Mohr, 'Weekly Roundup' originally published 3/6/2015 on ActionAlertsPLUS.com.

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Separately, TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate GOOGLE INC (GOOGL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself." You can view the full analysis from the report here: GOOGL Ratings Report