Alphabet (GOOGL) Likely to Benefit From More Robust Youtube Advertising than Expected Per Jefferies Expert Call
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Jefferies analyst Brent Thill reiterated a Buy rating and $2,150.00 price target on Alphabet (NASDAQ: GOOGL) after hosting an expert call with a firm that generates 70% of revs from YouTube advertising. Alphabet's (NASDAQ: GOOG) YouTube is a foundational piece for advertisers in the digital video channel and one of the most monetizable channels.
The analyst stated "Q4 media spend was much more robust than expected. Digital ad spend benefited from previously unused budgets, pandemic related budgets allocated to governments, and a shift away from linear TV. Pricing spiked, especially in the week leading into Nov. elections. Brand messaging is coming back, though has more to go. We are modeling Q4 YouTube ad revs up 15% q/q and 23% y/y, with overall GOOGL gross ad revs +13.5% q/q and 11% y/y".
Shares of Alphabet closed at $1921.00 yesterday
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