After its recent earnings blowout, shares of search giant Google (NASDAQ:GOOGL) are back to defying gravity (and handily outpacing the market).

However, upon examining Google's pricing over the last year, it becomes apparent just how lumpy those returns have been. Google nearly doubled the Nasdaq's return in the first half of last year, only to see the market play catch-up in the months prior to Google's earnings bonanza. As a result of the resurgent bullishness surrounding the search kingpin, Google's shares are now trading around $1,000 for the first time in its history, with its growth drivers in mobile still firing on all cylinders.

Of course, this benefits current shareholders -- but the flip side is that Google's now markedly more expensive than it was mere months ago. So with Google near fresh all-time highs, is there still an opportunity for investors interested in Google shares? Fool contributor Andrew Tonner explains why he still likes Google over the long term in the video below.