Alphabet had a massive quarter, and everyone thinks the stock is going well above $1,000 (GOOG, GOOGL)

It was another huge quarter for Google's parent company Alphabet.

With over $26 billion in revenue, that record-breaking $2.7 billion EU fine seemed like a drop in the bucket.

But the stock still dipped in after-hours trading following Monday's earnings report due to concerns over Google's rising traffic acquisition costs (TAC) as more users perform searches on mobile devices.

The stock was down about 2% early Tuesday.

Still, analysts remain bullish on Alphabet's future. Here's a roundup of what everyone is saying following Alphabet's latest earnings report.

SEE ALSO: Alphabet's full Q2 earnings results

Baird: BULLISH

Rating: Outperform

Price target: $1,100

Comment: "While TAC continues to increase with the shift toward mobile platforms and programmatic advertising channels, we note that expenses appear to be under control, even as management commits resources to newer growth opportunities..."

Barclays: BULLISH

Rating: Overweight

Price target: $1,060

Comment: "Google reported solid results with revenue & EPS 2% and 14% above consensus, but a tad shy of the heightened buyside expectations. The mix shift to faster-growing low- margin businesses, and the likely decelerating growth in desktop search (the primary profit pool) is challenging for Google to manage, hence we expect margins to continue to contract, but OI dollars & EPS to grow 15%-20% for the foreseeable future. "

William Blair: BULLISH

Rating: Outperform

Comment: "Despite investors likely focusing on declining margins year-over-year, we believe that share price appreciation should at least match EBITDA growth (we estimate 20% growth in fiscal 2018) going forward. Moreover, growth in YouTube and search remains strong, and incremental commentary on Google Cloud is encouraging."

See the rest of the story at Business Insider

Contributer : Tech Insider http://ift.tt/2gZxIYc

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