comScore Data Shows Google (GOOG) Continues to Gain Market Share -Piper Jaffray

May 21, 2008 9:17 AM EDT

Piper Jaffray is out with a note this morning presenting comScore data on Google (Nasdaq: GOOG). Piper Senior Analyst, Gene Munster, currently has a Buy rating and $819 price target on shares of Google.

Based on comScore data, Google gained 1.8% (largest month-over-month gain since March '06) in search market share during April, up from 59.8% in March to 61.6% last month. Such data implies that Google's U.S. query volume growth remains about 30% year-over-year, which is significantly higher than markets average of 19% year-over-year. Using the query data to extrapolate, Piper believes that "Google's paid clicks will come in at around up 1-2% sequentially for April."

Notably, Piper points out that Google "was the only of the big 5 to post a m/ m increase from March to April, demonstrating strength greater than the market."

Separately, the firm expects Google's international sales to represent about 52% of its earnings for Q2.

Google, Inc., a technology company, maintains index of Web sites and other online content for users, advertisers, Google network members, and other content providers.

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