Baird Says Buy Google (GOOG) On Weakness, Core Results Were Good
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Price: $900.62 +1.62%
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
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Baird trimmed its price target on Outperform-rated Google (NASDAQ: GOOG) from $760 to $750 following Q4 results, but is keeping their Outperform rating saying the core results were better than the headlines.
"While Google reported revenue and EPS below consensus, our analysis suggests the miss was almost entirely due to non-operational currency and accounting factors," analyst Colin Sebastian stated. "In fact, operating margin reversed course after four quarters of declines. Additionally, newer business (e.g., Display, Mobile and Google+) are all tracking ahead of expectations. We believe investors should use a pullback opportunistically."
For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.
Shares of Google closed at $639.57 yesterday, with a 52 week range of $473.02-$670.25.
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"While Google reported revenue and EPS below consensus, our analysis suggests the miss was almost entirely due to non-operational currency and accounting factors," analyst Colin Sebastian stated. "In fact, operating margin reversed course after four quarters of declines. Additionally, newer business (e.g., Display, Mobile and Google+) are all tracking ahead of expectations. We believe investors should use a pullback opportunistically."
For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.
Shares of Google closed at $639.57 yesterday, with a 52 week range of $473.02-$670.25.
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Robert W Baird
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