Google (GOOG) Investors Should Remain Calm, Says Topeka
Topeka Capital today maintained a Buy rating on Google (NASDAQ: GOOG) with a price target of $1,035.00. Shares declined after the Google missed Q2 earning on Thursday. In the view of analyst Victor Anthony, investors should keep calm, as Google remains best-in-class.
"Despite the across the board miss vs our estimates and the surprising 6% decline in CPCs, in part due to mobile, we continue to view the stock as one of the best longer-term investments in the TMT space. Google has evolved to be the gold standard in online advertising and an innovator in technology. While we do expect share price volatility around the Enhanced Campaign platform transition, investors with a long-term horizon should buy the stock," he said.
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 $910.68 yesterday, with a 52 week range of $576.13-$928.00.
"Despite the across the board miss vs our estimates and the surprising 6% decline in CPCs, in part due to mobile, we continue to view the stock as one of the best longer-term investments in the TMT space. Google has evolved to be the gold standard in online advertising and an innovator in technology. While we do expect share price volatility around the Enhanced Campaign platform transition, investors with a long-term horizon should buy the stock," he said.
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 $910.68 yesterday, with a 52 week range of $576.13-$928.00.