Market Overview

UPDATE: Pivotal Research Group Downgrades Google to Hold on Valuation, Cost Risks

Related GOOG
This Top Growth Fund Leans Heavily On Large-Cap Tech
Google Vs. Samsung: The Race For The Smart Home
Apple Adding New Security Measures to iCloud Accounts (Fox Business)

Pivotal Research Group downgraded Google (NASDAQ: GOOG) from Buy to Hold and maintained a $820.00 price target.

Pivotal Research Group commented, "We are downgrading Google from BUY to HOLD with an $820 price target, primarily on valuation given the stock's recent run up and sustainment. We are also concerned around rising expenses. As we noted previously, for Google to achieve the advertising revenue forecasts we expect, growth will have to come from lower margin sources. Further, as Google itself reiterated in its 10-K last week, "the margins on advertising revenues from mobile devices and other newer advertising formats are generally lower than those from desktop computers and tablets. We expect this trend to continue to pressure our margins.""

Google closed at $770.17 on Wednesday.

Latest Ratings for GOOG

DateFirmActionFromTo
Jul 2014BGC PartnersUpgradesBuy
Jul 2014Cantor FitzgeraldMaintainsBuy
Jul 2014CRT CapitalMaintainsBuy

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

Posted-In: Pivotal Research GroupAnalyst Color Downgrades Analyst Ratings

 

Related Articles (GOOG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters