Oppenheimer Analysts Reiterate Outperform on Renren Inc (RENN)
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Price: $2.98 +2.41%
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade RENN Now!
Today Oppenheimer maintained an Outperform rating and an $8 price target on Renren Inc (NYSE: RENN).
"Limited visibility into its online ad growth, mobile monetization and margin trajectory may keep investors on the sideline in the near term," said Andy Yeung, adding that "While the online ad segment is likely to remain weak in 3Q, growth momentum in gaming and group-buying businesses should continue
through 4Q12."
He revised 3Q sales and non-GAAP EPADS estimates from $47.5M/($0.04) to $49.8M/($0.05) to reflect management guidance and our revised margin assumptions.
For an analyst ratings summary and ratings history on Renren Inc click here. For more ratings news on Renren Inc click here.
Shares of Renren Inc closed at $4.11 yesterday, with a 52 week range of $3.21-$8.50.
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"Limited visibility into its online ad growth, mobile monetization and margin trajectory may keep investors on the sideline in the near term," said Andy Yeung, adding that "While the online ad segment is likely to remain weak in 3Q, growth momentum in gaming and group-buying businesses should continue
through 4Q12."
He revised 3Q sales and non-GAAP EPADS estimates from $47.5M/($0.04) to $49.8M/($0.05) to reflect management guidance and our revised margin assumptions.
For an analyst ratings summary and ratings history on Renren Inc click here. For more ratings news on Renren Inc click here.
Shares of Renren Inc closed at $4.11 yesterday, with a 52 week range of $3.21-$8.50.
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
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