Needham & Company Maintains a 'Buy' on Majesco Entertainment (COOL); Q2 In-line, But Challenged Short-Term Outlook
Tweet Send to a FriendGet Alerts COOL Hot Sheet
Price: $0.69 -1.43%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade COOL Now!
Needham & Company maintains a 'Buy' on Majesco Entertainment (NASDAQ: COOL) price target of $3.00 (from $5.00).
Analyst, Sean McGowan, said, "COOL reported 2Q sales and EPS in line with our expectations. Sales fell 5.4% YoY to $30.4 mm vs. our estimate of $30.0 mm, which was in line with consensus...COOL continues to rely heavily on sales of Zumba-related fitness products, which accounted for 86% of revenues during 2Q."
McGowan said the company's demo of 'Baller Beats' at the E3 show got a lot of buzz and COOL also launched a beta version of Mini Putt Park for Facebook (NYSE: FB). However, COOL still cut guidance, citing a challenging retail environment. Therefore, McGowan lowered FY12 EPS estimate from $0.33 to $0.25 and revenues from $146 mln to $140 mln/
For an analyst ratings summary and ratings history on Majesco Entertainment click here. For more ratings news on Majesco Entertainment click here.
Shares of Majesco Entertainment closed at $1.90 yesterday, with a 52 week range of $1.61-$4.53.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Sean McGowan, said, "COOL reported 2Q sales and EPS in line with our expectations. Sales fell 5.4% YoY to $30.4 mm vs. our estimate of $30.0 mm, which was in line with consensus...COOL continues to rely heavily on sales of Zumba-related fitness products, which accounted for 86% of revenues during 2Q."
McGowan said the company's demo of 'Baller Beats' at the E3 show got a lot of buzz and COOL also launched a beta version of Mini Putt Park for Facebook (NYSE: FB). However, COOL still cut guidance, citing a challenging retail environment. Therefore, McGowan lowered FY12 EPS estimate from $0.33 to $0.25 and revenues from $146 mln to $140 mln/
For an analyst ratings summary and ratings history on Majesco Entertainment click here. For more ratings news on Majesco Entertainment click here.
Shares of Majesco Entertainment closed at $1.90 yesterday, with a 52 week range of $1.61-$4.53.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
- RBC Capital Lifts PT on Marvell (MRVL) after 'Strong' Q1 Report
- Wells Fargo Boosts Price Target on Pandora (P), Maintains Outperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & Company
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
