Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) stock fell by more than 3.5% on Thursday after a disappointing earnings report lead to investors fleeing the company. Directly after the release of the earnings, however, the stock fell by more than 9%. The pull back shows that investors still have confidence in the web giant, even after the poor earnings report.

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Analysts at FBN Securities agree with the market view, and reckon that the company’s recent fall is a good opportunity for investors to get in on the stock. According to Shebly Seyrafi, who authored the FBN Securities report, Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) is likely to turn around as investors change their mood on internet companies after the momentum bust of recent weeks.

Google is strong despite earnings weakness

Google Inc (NASDAQ:GOOG) is the king of web advertising, and the company has the most compelling and important platform on the international computer network. Investors who pulled away from the company after the first months of 2014 are no longer enamored with its potential and its ability to grow in future.

Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) is still the leader in desktop and mobile advertising. The company controls the world’s biggest smartphone platform, the world’s most popular search engine, the world’s most popular email service, the world’s most popular mapping service and the worlds’ most popular web browser.

Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) is not going anywhere, and the stock is trading at less than 30 times earnings. That prices a lot of growth into the company, but analysts are expecting it to meet those expectations and more. Google is not a certain bet, but it’s not exactly an unstable tech growth story wither. The company has proven its ability to earn money, and that’s one reason to value it more highly than some of the other momentum stocks.

Momentum bust is not here to stay

The Momentum bust of 2014 hit some internet stocks particularly hard. Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) only lost a small amount of its value on the back of investor skepticism, but the company’s less than stellar earnings report led to that skepticism being delivered in a short amount of time just after the release of the numbers.

Worried investors should be less nervous, according to the FBN Securities. The problems in internet stocks are going away according to the company’s take on Google. According to the analyst “investors will shortly be rotating into the Internet sector.”

Growth isn’t all that easy to identify in the current market climate, but certain among the big internet stocks have reliably offered medium risk for medium return in the last five years or so. Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) may never explode upward as it has in the past, but strong growth is still expected from the company and investors shouldn’t write it off on the back of a single earnings report.

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