The stock is trading at $681.21, down $13,79.
Google: Two-Day Post-Earnings Slide Tops 10%; Analysts Split
Google shares are down sharply for the second straight day in the wake of the company’s disappointing Q3 earnings report.Bank of America/Merrill Lynch cut the stock for the first time since 2006. Here are some other opinions:
After a major sell-off yesterday after the inadvertent early release of the company’s results, Google shares bounced a bit after hours, as some analysts asserted that the slide was overdone. And while the stock opened in the green Friday, the rebound didn’t hold, and the stock has hit the skids once again in the face of a broad stock market sell-off....MORE
...Here’s a look at what some of the analysts are saying:...MUCH MORE
- Colin Gillis, analyst with BGC Partners, wrote a post-Q3 haiku. “Click prices decline, by double digits again, mobile is worth less.” He notes that cost-per-click dropped for the fourth quarter in a row, a trend he blames on a traffic shift to mobile, which he says converts clicks less effectively than desktop search. He notes that the core business is slowing, and that Motorola is “the mess that keeps on giving.” He maintains a Hold rating on the stock.
- Oppenheimer analyst Jason Helfstein cut his rating on the stock to Perform from Outperform, with a new target of $765, down from $800. He notes in a research report that the weak quarter reflects “higher spending on Nexus tablet subsidies and the drag of the Motorola losses.” He adds that while core advertising revenues were in line excluding currency, he’s cutting estimates anyway to reflect lower margins....