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SunTrust's Bob Peck On Google Results

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Analysts are weighing in on Google (NASDAQ: GOOG) following the firm’s second quarter results. Shares are trading higher on a top line beat and bottom line miss. SunTrust’s Bob Peck laid out what he did and didn’t like in the report.

One of the metrics highlighted in the report is advertising figures. Paid clicks rose 25 percent, despite a lower cost per click. This is a similar to what was seen in Yahoo’s second quarter report.

Some investors were concerned with the departure of CBO Nikesh Arora. Peck says the change is, “not a concern.”
Related: AMD Down More Than 15% Following Quarterly Report

Despite a strong report, SunTrust’s Bob Peck commented on a possible concern for the Google. “ US market growth decelerated to +12% from +14% in 1Q. The Network CPC declined for the 3rd consecutive quarter despite a flat trend in Paid Clicks. Part of the issue here may be the mobile shift since Ad Mob flows through this segment.”

Nonetheless, SunTrust boosted earnings estimates for the company from $33 per share to $33.19 per share.

Shares of Google were last trading 3.6 percent higher to $594.39.

Latest Ratings for GOOG

DateFirmActionFromTo
May 2019MaintainsBuy
Feb 2019MaintainsOverweightOverweight
Feb 2019MaintainsBuyBuy

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

Posted-In: Bob Peck SunTrust Robinson HumphreyAnalyst Color Analyst Ratings

 

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