Canaccord Genuity Reiterates a 'Buy' on OpenTable (OPEN); Reviewing the Thesis
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Price: $3.64 -0.27%
Rating Summary:
4 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity reiterates a 'Buy' on OpenTable (NASDAQ: OPEN), PT $115.
Canaccord analyst, Heath Terry, said, "Continuing OpenTable’s success hinges on three broad factors, in our opinion: penetration of seated diners in the US, replication of that success internationally, and build-out of marketing revenues (e.g., Spotlight). With the stock down 18% since Q1, we’re revisiting the company’s progress on these three fronts. While progress on some is at best early-stage, we believe that the company is well positioned to leverage its position with restaurants in the US, its toptable acquisition, and the demand creation opportunity into continued high levels of revenue growth and margin expansion. While OPEN trades at a significant premium to the group, we believe that the long-term growth in the core US business, the potential for international and ancillary revenues to drive accelerating growth, and the competitive barriers justify that premium."
For more ratings news on OpenTable click here and for the rating history of OpenTable click here.
Shares of OpenTable closed at $87.58 yesterday.
Canaccord analyst, Heath Terry, said, "Continuing OpenTable’s success hinges on three broad factors, in our opinion: penetration of seated diners in the US, replication of that success internationally, and build-out of marketing revenues (e.g., Spotlight). With the stock down 18% since Q1, we’re revisiting the company’s progress on these three fronts. While progress on some is at best early-stage, we believe that the company is well positioned to leverage its position with restaurants in the US, its toptable acquisition, and the demand creation opportunity into continued high levels of revenue growth and margin expansion. While OPEN trades at a significant premium to the group, we believe that the long-term growth in the core US business, the potential for international and ancillary revenues to drive accelerating growth, and the competitive barriers justify that premium."
For more ratings news on OpenTable click here and for the rating history of OpenTable click here.
Shares of OpenTable closed at $87.58 yesterday.
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