Alphabet (GOOGL) Performance Summit Offers A New Revenue Opportunity - BMO

BMO Capital analyst, Daniel Salmon, attended the Google (NASDAQ: GOOG) (NASDAQ: GOOGL) Performance Summit and listed two key takeaways, one of which offers incremental revenue.

Google's annual Performance Summit (formerly the AdWords Performance Summit) with major announcements including the addition of bid adjustments in AdWords for desktop/smartphone/tablet and the launch of Promoted Pins for Google Maps.

Bid adjustments for smartphone, tablet and desktop received the most robust, spontaneous applause from the audience. The audience recognized the power of being able to modify marketing plans on the fly.

However, Promoted Pins on Maps is likely to be the most notable change to investors. Google has had promoted pin-like ads on Waze for some time, so it’s not a new idea, but the one billion user scale of Maps makes it a potentially material change in available ad inventory, and could be the type of thing that drives more paid clicks, which in a vacuum, tends to be deflationary to cost-per-click (CPC).

The firm maintained an Outperform rating and price target of $925 on GOOGL.

For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.

Shares of Alphabet closed at $720.09 yesterday.

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