Google (NASDAQ:GOOG) Remains Solid, New Growth in Mobile, Display

Google (NASDAQ:GOOG), while continuing to perform well in search, has that solid foundation to work from as the enter into new growth markets like mobile and display.

Needham says, "We continue to be impressed w/revenue trends and new-growth opportunities like display and mobile, and as such, we are increasing our estimates, but note that we expect topline growth to be tempered in the near-term by a continued ramp in growth investments...Our CY11 net revenue, adj. EBITDA, adj. EPS ests increase to $26.69BN, $15.73BN and $34.46, respectively."

Needham & Company maintains a "Buy" rating on Google (GOOG), which was trading at $625.69, down $1.08, or 0.17 percent, as of 12:06 PM EST. Needham has a price target on Google of $700.