Google Shares: Buy Ahead of Earnings?
Google will report its first-quarter earnings after the bell today (Thursday). How should investors play it? Richard Fetyko, internet analyst at Merriman Curhan Ford, gave CNBC his recommendation.
The recession has affected Google's business in two ways — and one of those is actually a positive, said Fetyko.
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"We have actually seen an acceleration in online search, as consumers seek the best bargains out there," Fetyko explained. "The growth of search volume is increasing."
He concedes that advertisers are squeezed and thus "search price is declining." But, he adds, "net-net, we think the consensus has already captured some of those concerns."
And while there is "some anxiety" regarding the search giant's earnings, Fetyko declared that "We don't even need a beat. I think an inline number would go a long way for the stock."
Fetyko upgraded Google to "Buy" from "neutral" on March 31. He's maintaining that Buy rating.
Fetyko's firm makes a market in Google shares.
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