Ives on Google: “We Are So Back”
Wedbush Securities analyst Dan Ives invoked the “we’re so back” meme in the subject line of a note about Google’s rosy earnings yesterday to indicate an upturn in circumstances for the internet giant after it missed estimates a quarter earlier. Ives cited a bunch of positive results, including revenue growth in Search, YouTube ads, and cloud.
“Importantly, management did not call out any signs of a softening ad backdrop QTD through April, likely tempering some investor concern in the near-term,” he wrote of the company, which is considered a harbinger of how other megacap tech stocks might perform this quarter amid concerns about how tariffs might affect ad budgets.
Ives also wrote that Wedbush hiked its price target to $200 following analysts’ estimate changes.
