Piper Jaffray Said Google (GOOG) Paid Click Data Tracking In-Line
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According to Piper Jaffray analyst Gene Munster, Google (Nasdaq: GOOG) paid click data, which is tracking in-line with Street expectations of down 1%, increases confidence in Q2 in-line with the Street.
Munster notes third party click data suggests that U.S. paid clicks are tracking up 1.5% q/q vs. March qtr. Munster is modeling Q2 clicks to be up 3%. The month of May demonstrated clicks up 1% y/y and down 1% m/m.
Munster said, "While Q2 U.S. paid clicks are likely to come in slightly below our estimates, private company checks indicate a significant improvement in the online advertising environment, which could mean upside to CPC expectations."
Munster said investors will likely be more interested in the Bing impact in June, which they expect to show a slight negative impact to Google's paid click total.
The firm is maintaining their Buy rating and $471 price target on Google.
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