Oppenheimer Lifted Target on Google (GOOG) to $800 ahead of Q3
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Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 3
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Oppenheimer lifted its price target on Outperform-rated Google (NASDAQ: GOOG) from $752 to $800 ahead of third quarter results on 10/18.
Analyst Jason Helfstein expects Google to report results slightly above consensus.
"Our estimates call for US core revenues to slow 200 bps vs. 2Q on a slightly harder comp, with Int'l revenues slowing 400 bps. Our net revenue estimate is 4% above the Street," he comments. "While we have been critical of third-party data in the past, a larger sample size is supportive of strong results. CPC pricing appears to be improving, with total spending accelerating. Mobile probably had a -200 bps y/y impact compared to 2Q."
For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.
Shares of Google closed at $744.75 yesterday.
Analyst Jason Helfstein expects Google to report results slightly above consensus.
"Our estimates call for US core revenues to slow 200 bps vs. 2Q on a slightly harder comp, with Int'l revenues slowing 400 bps. Our net revenue estimate is 4% above the Street," he comments. "While we have been critical of third-party data in the past, a larger sample size is supportive of strong results. CPC pricing appears to be improving, with total spending accelerating. Mobile probably had a -200 bps y/y impact compared to 2Q."
For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.
Shares of Google closed at $744.75 yesterday.
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