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3 Online Advertising Stocks to Buy Following Google’s Blowout Earnings 

Published 05/03/2021, 09:23 AM
Updated 05/03/2021, 10:31 AM
© Reuters. 3 Online Advertising Stocks to Buy Following Google’s Blowout Earnings 

Google (NASDAQ:GOOGL) (GOOG) and Facebook (NASDAQ:FB) reported strong earnings which showed an increase in ad spend and rates. Shutterstock (NYSE:SSTK), Travelzoo (TZOO), and Brightcove (BCOV) are 3 online advertising stocks that will also benefit. .So far, this earnings season has been quite strong. As of Wednesday, 84% of S&P 500 companies had topped EPS estimates, while 74% beat revenue estimates. This is despite analysts hiking estimates over the past month.

Two of the most impressive performances were by Google (GOOG) and Facebook (FB). Both companies beat on the top and bottom-line by a significant margin and issued guidance above expectations. Their results indicate that businesses are aggressively spending on online advertising to reach new customers.

While Google and Facebook are the two biggest beneficiaries, there might be more upside in some smaller stocks that will also benefit from increased spending on online advertising. Investors should consider buying Shutterstock (SSTK), Travelzoo (TZOO), and Brightcove (BCOV).

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