Strong Report for Google in Q3
Oct 31, 2024
Alphabet (i.e., Google) reported Q3 results that were strong across the board. Revenue was up 15%, led by Google Cloud growing 35% year-over-year as businesses spend to build out their AI infrastructure. The core business (search, subscriptions, platforms, YouTube, etc.) still grew a healthy 13%, and remains 87% of revenues. The company continues to expand margins (op margin up to 32.3%, vs. 27.8% a year ago) and buy back shares (down 2.2% year-over-year). Pretty much the results were are looking for from the company, but the market is still ahead of the value. I'm bumping the fair value price up a few bucks to $127. Google will remain on the Watch List.
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Watch List
| VTEX | -9.71% |
| S | 12.83% |
| CRWD | 80.72% |
| SEMR | 11.72% |
| SNOW | 21.49% |
| SE | 57.38% |
vs. Fair Value Estimates
Buy List
| GOOG | -31.42% |
| NYAX | -53.45% |
| ASR | -27.70% |
| PAYC | -29.22% |
| HRMY | -44.10% |
| YOU | -50.88% |
| MELI | -25.87% |
| ADBE | -32.52% |
vs. Fair Value Estimates
Hold List
| ZETA | -23.47% |
| MSFT | -19.37% |
| ODD | -23.36% |
| FLYW | -4.21% |
| CELH | -21.75% |
| TOST | 40.35% |
| CPNG | -6.38% |
| HIMS | 10.32% |
| MNDY | 18.52% |
| GLBE | 20.04% |
| ZS | 21.96% |
| V | -9.08% |
| ADSK | 12.76% |
| NOW | 56.87% |
| ABNB | -20.22% |
| FTNT | 4.78% |
| TEAM | 18.62% |
vs. Fair Value Estimates