Oppenheimer Downgrades OpenTable (OPEN) to Perform After Q4 Results, Cites Valuation
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Price: $2.23 +2.76%
Rating Summary:
5 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
5 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Oppenheimer downgraded OpenTable (NASDAQ: OPEN) from Outperform to Perform with a price target of $54, citing valuation after Q4 results.
The firm said that while Q4 results were stronger than expected, mostly on margins, OPEN expects weaker 1Q revenues on tough US comparisons, reduced international dinner pricing and meaningfully higher 1Q expenses.
The firm cut '12E and '13E non-GAAP EPS by 3% and 10%, respectively.
For an analyst ratings summary and ratings history on OpenTable click here. For more ratings news on OpenTable click here.
Shares of OpenTable closed at $51.45 yesterday.
The firm said that while Q4 results were stronger than expected, mostly on margins, OPEN expects weaker 1Q revenues on tough US comparisons, reduced international dinner pricing and meaningfully higher 1Q expenses.
The firm cut '12E and '13E non-GAAP EPS by 3% and 10%, respectively.
For an analyst ratings summary and ratings history on OpenTable click here. For more ratings news on OpenTable click here.
Shares of OpenTable closed at $51.45 yesterday.
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