"Google has a history of trading down and then blasting higher," he said. "I think you're going to see a $600 handle on Google if the market cooperates."
OptionMonster's Jon Najarian downplayed the misses on Google's quarterly earnings.
"I don't view any of the numbers that they released today as scary, and I don't think the stock's scaring too many people yet after hours," he said.
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Brian Kelly of Brian Kelly Capital said he saw signs of a slowdown in the stock.
"The Wall Street expectations built into the stock are that this business is going to be accelerating, there's going to be a certain growth rate. So, you get one more quarter like this, you get any kind of deceleration, and that growth story is gone," he said.
Kelly said that within a point or two of a $525 level was the pivot point.
"If you break through that, you've got to pull the parachute and get out of it," he added.
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Neil Doshi of CRT Capital noted that Google could face headwinds from European antitrust regulators.
"I think there's two camps of institutional investors that are worried," he said. "One is on the margins. One is on overhang from a long, drawn-out legal battle."
Doshi, who has a "buy" rating on Google stock and a $660-per-share price target, said he remained bullish.
"I think there's probably another couple of quarters we could see some nice improvements on the CPC side, which could drive nice revenue upside over time," he said.