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Don’t sell Google on earnings pop: Trader

Thursday, 17 Oct 2013 | 6:28 PM ET
Don't sell Google on earnings pop: Trader
Thursday, 17 Oct 2013 | 5:02 PM ET
Strong quarterly earnings sent Google stock higher, but that doesn't mean it's time to take profits, says Karen Finerman of Metropolitan Capital Advisers.

Strong quarterly earnings sent Google stock higher in after-hours trading, but that didn't mean it was time to take profits, Karen Finerman of Metropolitan Capital Advisors said Thursday.

"I wouldn't think of selling it here, even though it could trade off a little bit off this pop," she said. "But I still want to own it. Story's intact."

Shares of Google hit a new high following its latest earnings report, which blew past Wall Street analysts' expectations.

(Read more: Google shares hit new high after earnings beat)

Finerman, who held a long position in Google, added that she had experienced "Facebook envy."

"The only disappointment was the cost-per-click coming down," she said.

Google set up well for international recovery: Pro
Is there still concern about Google's mobile monetization? Mark Mahaney of RBC Capital Markets says, "There is a lot of good to come from Google over the next 12 months."

On CNBC's "Fast Money," Stuart Frankel's Steve Grasso said that he had been buying three stocks on the recent market pullbacks: Tesla, Bank of America and Google.

(Read more: Tesla's stock valuation a speed bump, analyst says)

"Who wants to buy a MacBook when you can buy a ChromeBook?" he said. "They're still hitting on everything, and they're still crushing them at search."

Josh Brown of Ritholtz Wealth Management acknowledged lower cost-per-click advertising rates for Google, "but they're more than making up for it in higher and higher volumes, and Internet revenue total is up 23 percent this quarter."

(Read more: 'I like Europe because it's not the U.S.': Paul Richards)

"This is a growth business selling at a so-so multiple," Brown added. "Seventeen times next year's earnings is not good enough."

Brown also saw Google's cloud-computing customers as a growth area, adding that the stock would likely cross the $1,100 threshold.

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

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