Google is benefiting from strength in online advertising, mobile smartphones and tablets based its Android operating system, and YouTube, Colin Sebastian, analyst at Robert W. Baird & Co, told CNBC's "Squawk Box" on Tuesday.
He has a 12 month price target of $850 on the stock, which would be a 5 percent increase from current levels, but said the upside could be even greater.
While Android devices and Apple's iPhone and iPad are the dominant players in the move away from the desktop, Microsoft has recently upped its game with Windows for its own tablets and for smartphones. But so far, those initiatives have failed to gain traction for the software giant, said CLSA analyst Ed Maguire.
Maguire does see a 27 percent move to the upside with his $36 price target. He told CNBC that he's positive on the stock because of the potential for Microsoft in the Enterprise space, including its Office suite.