Weekly Investment Analysts’ Ratings Changes for Google (GOOG)
Google (NASDAQ: GOOG) received a number of price target changes and ratings updates during the last week:
- Google had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $640.00 price target on the stock.
- Google is now covered by analysts at Credit Suisse. They set an “outperform” rating on the stock.
- Google had its price target raised by analysts at Susquehanna from $750.00 to $880.00. They now have a “positive” rating on the stock.
- Google was given a new $850.00 price target on by analysts at ThinkEquity. They now have a “buy” rating on the stock.
- Google had its price target raised by analysts at JPMorgan Chase from $670.00 to $850.00. They now have an “overweight” rating on the stock.
- Google had its price target raised by analysts at Oppenheimer from $752.00 to $800.00. They now have an “outperform” rating on the stock. They wrote, “We expect GOOG to report 3Q results slightly above consensus, after the close on Thursday. Our estimates call for US core revenues to slow 200 bps vs. 2Q on a slightly harder comp, with Int’l revenues slowing 400 bps. Our net revenue estimate is 4% above the Street. While we have been critical of third-party data in the past, a larger sample size is supportive of strong results. CPC pricing appears to be improving, with total spending accelerating. Mobile probably had a -200 bps y/y impact compared to 2Q.”
- Google had its price target raised by analysts at Piper Jaffray to $834.00. They wrote, “Based on the past three Q3 reports, Google has shown an average of 7.9% q/q growth in its core business with a range of 7.6-8.6% q/q growth. We believe the Street is currently looking for around 6% q/q growth in Google’s core business. We believe that Google is likely to post sequential growth in its core business greater than the current 6% Street expectation based on an improved ad environment as witnessed in our daily display checks as well as positive third party data indications on search.”
- Google had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $795.00 price target on the stock.
- Google had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $690.00 price target on the stock, up previously from $640.00. They wrote, “While suspecting that the changing assessment of relative fundamentals of GOOG and FB is a primary driver of GOOG’s share price rise this past quarter, we think investors must nevertheless keep two other fundamental in mind. First, we look to the impact of the changing macro outlook on GOOG’s top-line growth – on balance, changes over the past quarter have been negative. Second, as we noted in our initiation thesis, we see as important the competition which search in general faces from e-commerce/vertical search, including, but not limited to AMZN. We note, for example, data in our 10/12 Media Use Survey report.”
- Google had its price target raised by analysts at Pacific Crest from $750.00 to $855.00.
Shares of Google Inc. opened at 755.49 on Thursday. Google Inc. has a one year low of $556.52 and a one year high of $774.38. The company has a market cap of $247.1 billion and a P/E ratio of 22.40.
Google Inc. (Google) is a global technology company focused on improving the ways people connect with information.