Is Google (GOOG) Earnings Miss Unthinkable? Stifel Says No

March 27, 2013 11:13 AM EDT
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Price: $805.02 +0.35%

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Google (NASDAQ: GOOG) search spending declined 1 percent year-over-year in the first quarter, thinks analyst Jordan Rohan of Stifel Nicolaus, citing data from Ignition One. The decline isn't indicative of the broader Google ecosystem, as Android and YouTube continue to grow, but Rohan raised concerns about the possibility of an earnings miss, which he says "hasn't been factors into investor psyche." He thinks shares of Google will be volatile heading into earnings.

Meanwhile, on the whole analysts continue to raise Google's price target. This morning, Credit Suisse raised Google's price target to $982. This is just shy of Bernstein's Street-high $1000 target.

Stifel Nicolaus has a Hold rating on Google.

For an analyst ratings summary and ratings history on Google (NASDAQ: GOOG) click here. For more ratings news on Google click here.

Shares of Google closed at $812.42 yesterday.

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