Wedbush Comments On Google Ahead Of This Week’s Earnings

Wedbush analyst Shyam Patil maintained a Neutral rating on Google (NASDAQ:GOOGL) with a price target of $530, as the company is scheduled to report its fourth-quarter earnings results on Thursday, January 29th after the close.

Patil wrote, “We expect Google to report relatively in-line FX-adjusted 4Q results. That said, reported results could be impacted by FX as ~58% of revenue is international, though the magnitude of impact is difficult to discern given Google’s attempts to hedge currency risk. Our checks appear to be suggesting 15-20% growth in 2015, which is in line with estimates, though we continue to expect continued growth deceleration.”

The analyst added, “For 4Q14, we estimate Google net revenue of $14.40 billion (16% y/y vs. 22% y/y in 3Q14 and 26% y/y in 4Q13), vs. Bloomberg (BB) consensus $14.77 billion. We estimate non-GAAP EPS of $6.96, vs. BB consensus of $7.19.”

Google Inc., a technology company, builds products and provides services to organize information. The company offers Google Search, which provides information online.

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