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(EMAILWIRE.COM, February 11, 2013 ) San Francisco, CA -- Google, the worlds largest search engine, close with a report high following reported earnings last week that topped many estimates. The outcome buoyed investor sentiments regarding the growth prospects.
The shares had advanced 2.6% to $775.60 at yesterday's close in the New York exchanges, which was the highest value since the company went public nearly a decade ago. Google has gained 34% over the last 12 months, compared to the 14% increase seen by the entirety of the Standards & Poor's 400 Index.
Google has seen a benefiting from the rising demand of marketers who seek to advertise through the local services. That is a channel which Facebook and Groupon Inc have also looked to sell advertising. Four-quarter profit, rose by $10.65 per share (excluding some particular items), according to a Jan 22 statement by the company.
“In all of the growth areas of online advertising, Google has a big presence,” Sameet Sinha, an analyst at B Riley & Co., said in an interview. “Rather than picking the best horse, here’s someone executing on all fronts.”
Sinha, who owns no shares in the company, rates Google a buy.
Google has had more than 41% of all digital ad revenue in the U.S. In 2012, according to an EMarketer Inc. research study. In the mobile department, Google holds 53% share, compared to the 8.4% for Facebook. The company has found a way to dominate much of the U.S. Search-based advertising market, with a 75% share on the whole, according to the Emarketer's estimates.
There are three-quarters of the 33 analysts covering the Google rate that describe the company as a buy, according to Bloomberg data. Those analyst have noted their target price for the stock to an average of $824.83 from $796.66 from the day before the company's latest slew of earnings reports.
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Source: EmailWire.com
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