Barclays analyst Ross Sandler lowered his price target for Alphabet (GOOGL) to $1,250 following last night's Q1 results but keeps an Overweight rating on the shares. The company reported revenue and recurring earnings that were 3% and 7% above estimates, but missed consensus operating income by 9%, Sandler tells investors in a research note. What matters the most on these kinds of "noisy" prints historically is that Sites revenue growth is well ahead of expectations and not decelerating at all despite a tougher comp, the analyst contends. Sandler thinks Alphabet shares are oversold at current levels and would selectively add to positions.
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. GOVERNMENT SCRUTINY: The Biden... To see the rest of the story go to thefly.com. See Story Here
Shares of Reddit (RDDT) jumped again in Tuesday trading as they extended their run following the launch of options on the stock the day before. Of note, the... To see the rest of the story go to thefly.com. See Story Here