Needham & Company Reinstates Coverage on Google (GOOG) at Buy; Multiple Billion Growth Opportunities
Tweet Send to a FriendGet Alerts GOOG Hot Sheet
Price: $889.42 --0%
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Trade GOOG Now!
Needham & Company reinstates coverage on Google (NASDAQ: GOOG) with a Buy. PT $725.
Needham analyst says, "We believe Google is a compelling investment given its multiple billion dollar growth opportunities: Search remains the engine of growth and our 2H11 Search revenue estimates could prove conservative as advertisers shift more of their budgets online and wait to flush their budgets...We conservatively estimate that Google’s Display Advertising is on a $3 billion run rate...As the leading smartphone OS, Android’s market share is nearly 40% and could generate revenue of $4 billion in 2011...Local and Social represent emerging billion revenue opportunities...We are establishing FY12 estimates. We estimate pro forma EPS of $43.25 on revenue of net revenue of $34.9 billion."
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $528.94 yesterday, with a 52 week range of $447.65-$642.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Needham analyst says, "We believe Google is a compelling investment given its multiple billion dollar growth opportunities: Search remains the engine of growth and our 2H11 Search revenue estimates could prove conservative as advertisers shift more of their budgets online and wait to flush their budgets...We conservatively estimate that Google’s Display Advertising is on a $3 billion run rate...As the leading smartphone OS, Android’s market share is nearly 40% and could generate revenue of $4 billion in 2011...Local and Social represent emerging billion revenue opportunities...We are establishing FY12 estimates. We estimate pro forma EPS of $43.25 on revenue of net revenue of $34.9 billion."
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $528.94 yesterday, with a 52 week range of $447.65-$642.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Apple (AAPL), Samsung Could Crumble Under High-End Smartphone Pressure
- China Q1 Online Ad Revs Grow 28% Y/Y Led by Keyword Search (BIDU) (SOHU)
- NetApp (NTAP) Post Solid Q4, Numbers Bumped - Needham & Company
Create E-mail Alert Related Categories
New CoverageRelated Entities
Needham & Company
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
