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Google Falls Amid Downgrade From Atlantic Equities

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Shares of Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) fell at Monday’s open amid Atlantic Equities downgrading the stock from Overweight to Neutral.

The Atlantic Equities downgrade follows Stifel’s January 8 downgrade from Buy to Hold.

“Google is in the early to mid stages of a core business maturation,” according to Stifel analyst Scott Devitt. “The company continues to find growth outside of search, but in structurally lower-margin business segment such as Google Play and YouTube.”

Google recently traded at $492.03, down about 1 percent.

"Today's downgrade aside, Google remains a must-have long-term position for investors," Dr. Thomas Carr, founder and CEO of DrStoxx.com told Benzinga. "With 91.5 percent market share on all browsers and operating systems, with 6 times the ARPU (ad rates per user) of Facebook, with a wide moat and a P/E below its historic average, GOOG shares look attractive at these levels."

Latest Ratings for GOOG

DateFirmActionFromTo
Jan 2017Pacific CrestReinstatesOverweight
Jul 2016JP MorganMaintainsOverweight
Apr 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

Posted-In: Atlantic Equities Scott Devitt StifelDowngrades Exclusives Analyst Ratings

 

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