In a note published today, analysts at Deutsche Bank have insisted that, while investors have recently been repelled by Google, there remain signs that their fears could be “overblown”.
Last month, Google took a 3% hit in its share price, the biggest drop in the company’s stock in two months, following a report of an impending decline in global spending on search advertising. However, as Business Insider reports, Deutsche Bank says that Google’s future remains rosy.
“The company continues to introduce a number of visible (and less known) tweaks to core search, which should help sustain growth in the near term,” the analysts opined. They also reported polling many UK-based search engine marketing agencies, publishers and advertising partners during the last two weeks, and discerning “limited risk to 2H estimates from Brexit.”
Google’s increasing efforts in artificial intelligence and machine learning are also good indicators for the company’s future growth, the analysts added.
