Do All Analysts Hail Google’s Earnings?
With Google (NASDAQ:GOOG) up +5.9%, analysts are excited to encourage investment after the Google’s impressive Q3 results. Many have attributed a large portion of Google’s success to its mobile advertising, but regardless of the catalyst for high Q3 yield, most analysts are emphasizing a “buy” rating.
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A few exceptions haven’t followed the Wall Street herd to put a “buy” rating on Google’s stock. Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C) were quite impressed with the earnings, but have decided to remain neutral for the time being. Yet, whether implementing a “buy” rating or not, almost all 40 Google analysts are raising EPS and revenue estimates in response to the company’s underestimated Q3 success.
Piper Jaffey’s (NYSE:PJC) Gene Munster states what appears to be a general consensus from Google analysts, “We remain confident in Google’s ability to continue to grow in the low double digits over the next few years as it continues to improve paid search results.”
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