Benchmark Maintains a 'Hold' on Travelzoo (TZOO); Late Local Summer Surge Helps 2Q but Momentum Faded
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Price: $9.33 +0.65%
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Benchmark maintains a 'Hold' on Travelzoo (NASDAQ: TZOO) price target of $24.00.
Analyst, Daniel L. Kurnos, said, "After tracking below our $12.5 million gross estimate for most of June, Travelzoo’s Local Deals segment witnessed a greater-than-expected end of quarter surge, bringing estimated gross revenue to nearly $12 million...However, barring a few incremental market additions during the quarter, we’ve seen few other signs indicating that the proposed headcount ramp and subscriber reacceleration initiatives have yet to benefit results, with July pacing under $9 million gross."
"For 2Q12, we forecast consolidated Local revenue may be $32.5 million gross, or $9.4 million net...We estimate total revenue could grow by 4% y/y to $39 million vs. consensus at $40 million, with EBITDA of $10 million up 21% y/y as Travelzoo cycles through its expensive attempt at TV advertising in 2Q11."
For an analyst ratings summary and ratings history on Travelzoo click here. For more ratings news on Travelzoo click here.
Shares of Travelzoo closed at $22.17 yesterday.
Analyst, Daniel L. Kurnos, said, "After tracking below our $12.5 million gross estimate for most of June, Travelzoo’s Local Deals segment witnessed a greater-than-expected end of quarter surge, bringing estimated gross revenue to nearly $12 million...However, barring a few incremental market additions during the quarter, we’ve seen few other signs indicating that the proposed headcount ramp and subscriber reacceleration initiatives have yet to benefit results, with July pacing under $9 million gross."
"For 2Q12, we forecast consolidated Local revenue may be $32.5 million gross, or $9.4 million net...We estimate total revenue could grow by 4% y/y to $39 million vs. consensus at $40 million, with EBITDA of $10 million up 21% y/y as Travelzoo cycles through its expensive attempt at TV advertising in 2Q11."
For an analyst ratings summary and ratings history on Travelzoo click here. For more ratings news on Travelzoo click here.
Shares of Travelzoo closed at $22.17 yesterday.
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