Benchmark Cuts Price Target on OpenTable (OPEN) Following Weak Q2 Results
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Price: $3.53 +1.73%
Rating Summary:
4 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark is reaffirming its Hold rating on shares of OpenTable (NASDAQ: OPEN) and is cutting its price target by $10 to $80 following weak quarterly results.
Although North American results were strong, the company reported a 44 percent loss in organic revenue growth. International markets were slow.
The firm is lowering its 2011 revenue estimate from $149 million to $144 million and its EBITDA estimate from $60 million to $58 million.
For more ratings news on OpenTable click here and for the rating history of OpenTable click here.
Shares of OpenTable closed at $68.90 yesterday.
Although North American results were strong, the company reported a 44 percent loss in organic revenue growth. International markets were slow.
The firm is lowering its 2011 revenue estimate from $149 million to $144 million and its EBITDA estimate from $60 million to $58 million.
For more ratings news on OpenTable click here and for the rating history of OpenTable click here.
Shares of OpenTable closed at $68.90 yesterday.
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