Google Inc (NASDAQ:GOOG) beat consensus by a couple of percentage points in its latest earnings report, sending shares of the search giant’s stock soaring to new heights. They climbed almost 10 percent in premarket trading Friday morning, and analysts are raising their price target for the stock.

Google Earnings

Google price targets raised by at least three firms

Canaccord Genuity analysts Michael Graham and Maria Ripps raised their price target for Google Inc (NASDAQ:GOOG) from $940 to $1,000 per share after the results. Citi analysts Mark May, Kevin Allen and Nathaniel Brogadir raised their target price from $1,050 to $1,025 per share. Susquehanna Financial Group analysts Brian Nowak and Michael Costantini increased their price target from $1,080 to $1,110 per.

Google’s results were mixed

Canaccord Genuity is bullish on some of the company’s results but bearish on others. As a result, they adjusted some of their estimates. They kept their 2013 gross revenue estimate at $59.4 billion but lowered their 2014 estimate from $68.6 billion to $67.8 billion. They also lowered their 2015 estimate from $78.6 billion to $77.9 billion. On earnings per share, however, they raised their estimates. Their 2013 estimate rose from $43.99 to $44.37 per share, while their 2014 estimate increased from $52.54 to $53.14 per share. Their 2015 estimate increased from $62.99 to $64.04 per share.

The analysts said they’re bullish on Google Inc (NASDAQ:GOOG)’s websites revenue growth which grew from 18 percent to 22 percent quarter over quarter. Also the company had positive development in TAC. They’re bearish on the fact that the company’s cost per click fell another 8 percent year over year because of the transition to Enhanced Campaigns. Network revenue growth also slowed to almost zero.

Google beat Street estimates for first time in 2 years

Susquehanna analysts say that this is the first time in two years Google Inc (NASDAQ:GOOG) has beat both ad revenue and earnings per share estimates. Like analysts at Canaccord Genuity, they note the mixed results. However, they actually raised their fiscal 2014 revenue estimate by 1 percent. Citi analysts raised their 2013 net revenue estimate from $46.3 billion to $47.1 billion.