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Investors growing worries on Google Stock

Google’s stock is exactly where it was in September 2007, and it has fallen 9% since Eric Schmidt announced in January that he’d be stepping down as CEO.

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The problem, investors say, is that for every reason to believe in Google (GOOG, Fortune 500), there seems to be a counterbalancing reason for concern.

The company is growing rapidly, but antitrust battles are a threat to growth. Hiring increases could help create the next billion-dollar business, but the weight on margins scares some investors. New management should make the company more efficient, but near-term profits could suffer. And well-received product enhancements aren’t enough to reduce some investors’ worries about Facebook’s threat to Google’s business.

“There are many moving parts at Google that make it hard to assess [growth] on the revenue line, associated risk and competitive dynamics across its many markets,” said Joel Achramowicz, analyst at Blaylock Robert Van. “These uncertainties are causing the market to remain circumspect with regard to the name ‘Google.'”

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