Analysts are publishing their forecasts for Google’s Q1 2011 earnings.
Thursday’s earnings call will be the first under new CEO Larry Page and analysts are expecting to get some guidance on the direction of the company. Overall the outlook is positive with expectations of Google GOOG beating guidance and the Street.
Interestingly, there isn’t much talk about the ITA purchase, which has now gotten Federal approval.
Here we go…
Justin Post at BofA Merrill Lynch has a high target of $750 with higher OpEx to keep EPS in check:
ThinkEquity’s Aaron Kessler has a price target of $780 and is modeling $6.39B revenues(up 26.2%Y/Y, 0.3%Q/Q), roughly in line with the Street’s $6.44B.
Jordan Rohan at Stifel Nicolaus has a target of $775 and sees Larry Page’s early moves (7 reports, rewarding social, CFO given expanded power) as positive but sees risks to investment:
Gene Munster at Piper has a price target of $725 and says GOOG looks cheap but with risks that include competition, increasing traffic acquisition costs, loss of key partnerships, and slowing ad/search growth.
Trip Chowdhry from Global Equities Research has a lower price target of $650 with the following bullet point to consider:
- Google search market share stable, query volume up, bid rates slightly up
- “Radiation” Keyword strong – $13 PPC; “Radiation” AdSense also Strong – may contribute to surprise
- Search+ YouTube strong; Re-Marketing – but how will it perform with “Do Not Track Me” Regulation
- Google Reorg is 2 years too late; but can the new organization deliver?
Mark S. Mahane at Citi has a target of $750 and views Long-Term Risk/Reward As “Reasonably Attractive”
Kerry Rice at Wedbush has a price target of $750 and says that “Android could be as dominant in the smartphone market as in search.” More on that shortly.
Tune in Thursday at closing to get our instant analysis.
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