JMP Securities Reiterates Google's $625 PT After CFO Change

JMP Securities on Wednesday issued a report on

following the announcement that Ruth Porat has been named Google's new CFO beginning May 26, replacing retiring CFO Patrick Pichette. JMP Securities rates Google as Market Outperform with a $625 price target. Analysts Ronald Josey and Michael Wu wrote, "We continue to believe Google is among the best-positioned Internet companies across our coverage universe as it benefits from almost every Internet growth driver, including search, display, video, mobile, and social, to name a few. For 2015, we project net revenue of $60.2 billion." After the change in leadership, investors will be looking for any change in Google's capital structure, including the potential for the return of capital to shareholders via buybacks or dividends. Analysts believe that given Porat's background in finance, she will hold a more traditional CFO role. Shares of Google recently traded at $567.11, down 0.54 percent.