Google (GOOG) Q2 Was Better Than You Think - Jefferies

July 19, 2013 6:59 AM EDT
Get Alerts GOOG Hot Sheet
Price: $805.02 +0.35%

Rating Summary:
    53 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade GOOG Now!
Join SI Premium – FREE
Jefferies reiterated a Buy rating and $1,000 price target on Google (NASDAQ: GOOG) following Q2 results that the firm said "were better than some may realize."

The Jefferies Internet team commented, "While GOOG posted somewhat disappointing results at first glance, we see three reasons why the results were better than some may realize. 1) The Google Network rev miss is essentially self-inflicted, with GOOG sacrificing some short-term rev to ensure a useful & safe user experience. We've seen this before, and we're not concerned. 2) Strong Paid Click gains neutralize CPC declines. 3) GOOG incurred some 1x D&A expenses in 2Q."

The firm cut Q3 EPS from $11.66 to $11.37, FY 2013 from $48.24 to $46.15 and FY 2014 from $56.25 to $54.66.

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 $910.68 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Jefferies & Co

Add Your Comment