Market Overview

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

Share:
Related GOOG
Don't Believe The Reports, Axiom Says: Yelp Couldn't Find A Buyer
Global Satellite Internet Network Could Be A Game-Changer… Here's How To Profit From It
Weekly Wrap-Up Market Forecast Sector Watch Greece Votes No FAS BTK FDN IGV GS BAC JPM WFC V PNC STI AMZN FB GOOG NFLX BIIB CELG AMGN GILD JAZZ RHT CRM CYBR (Marketfy)

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
Jun 2015Mizuho SecuritiesInitiates Coverage onNeutral
Mar 2015AxiomInitiates Coverage onHold
Jan 2015JMP SecuritiesMaintainsMarket Outperform

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...

Get Benzinga's Newsletters