Google Inc (GOOG): Analysts Unfazed By Clever April Fools’ Pranks


Did you know that today Google Inc (NASDAQ:GOOG) announced the Google Magic Hand? Google is changing the future of how you use your mobile device by introducing a mechanical hand that uses your phone for you!

In addition, if you’re a map junkie, you will be pleased to hear that Google also just launched a  new Pokemon Challenge in Google Maps. Once you are logged-in to the latest version of Google Maps, you can search for Pokemon characters and then physically travel to their location to catch them.

Google Inc (NASDAQ:GOOG) also released the Gmail Shelfie today, where you can take selfies and load them as your Gmail background. But, it doesn’t stop there, these images can be shared with other Gmail users and even start trending!

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Google seems to be the master of new ideas, or they just really enjoy April Fools’ Day!

You might have been fooled by the various fake Google product announcements today, but top analysts were not as easily deceived.

With TipRanks, you can easily see which analysts have a history of successful performances such as, RBC Capital analyst Mark Mahaney and Cantor Fiztgerald analyst Youssef Squali. Both of these analysts have a strong background in the internet market and recently recommended BUY Google Inc (NASDAQ:GOOG).

Mark Mahaney recommended BUY Google Inc (NASDAQ:GOOG) at the end of March “to accommodate the impending debut of new ‘Class C’ share of stock that Google is paying out as a form of dividend.” Even though the stock was down 1%, Mark remained upbeat about the situation. Mark is ranked 140 out of 2480 analysts and has a +2.4% average return over S&P-500.

In addition to Mark, analyst Youssef Squali maintained his BUY Google Inc (NASDAQ:GOOG) rating and raised his price target from $1260 to $1300 based on the fact that “product listing ads (PLAs) are showing signs of tremendous success.” Youssef was impressed with Google’s advertising strategy, noting, “With its superior user experience, greater engagement and higher conversion, PLAs (product listing ads) are revolutionizing the way retailers are buying keywords on Google. Returns so far have been impressive enough that ~$1B in incremental ad spend is likely to move to PLAs in 2014, by our estimate.” Youssef even believes that this advertising potential could “make Google an even bigger starting point for shoppers, gaining share from, Inc. (NASDAQ:AMZN) and eBay.” Youssef is ranked 63 out of 2480 analysts and has a +3.7% average return over S&P-500.

Google Inc (NASDAQ:GOOG) might have tried to pull some tricks today, but these top analysts are not ready to fall for anything sneaky. To continue following these analyst recommendations as they stand by their BUY ratings in the face of jokes, download TipRanks and start making informed financial decisions with advice you can trust.