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Google Rating Cut Down By JMP

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Google’s rating from JMP Securities has been cut down from “Strong Buy” to “Market Outperform’.

Along with that, JMP cut its price target down to $475 from $500. At the writing of this article, GOOG is at $408.95 after opening at $409.00.

JMP has been cited as saying that Google’s first-quarter and full-year revenue growth will be much lower than its initial forecast.

Search query growth has not lived up to expectations. This is likely a factor that has been taken into consideration as other market analysts such as William Morrison have also lowered their target prices.

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Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.

Google Rating Cut Down By JMP
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  • http://www.google.com/notebook/public/13925590165897262561/BDSIKQgoQmsLrpJsj William

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