Collins Stewart Reiterates a 'Buy' on OpenTable (OPEN); Investor Concerns Are Overblown
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Price: $3.47 -3.07%
Rating Summary:
4 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
4 Buy, 11 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Collins Stewart reiterates a 'Buy' on OpenTable (NASDAQ: OPEN) price target of $93.00.
Collins analyst says, "Strong operating metrics indicate 3Q softness was temporary: 1) North America seated diners grew 38% Y/Y to 24.6M (vs. 42% in 3Q), significantly faster than industry diner growth of 2%; 2) North America installed ERB restaurant base grew 17% Y/Y to 15.3K restaurants; 3) International seated diners grew 45% Y/Y; 4) International ERB restaurant base grew 29% Y/Y to 2.7K restaurants; 5) Connect restaurant base in North America grew 19% Q/Q, 159% Y/Y to 1.8K restaurants."
"4Q performance shows growth and margin story is still intact and investor
concerns are overblown."
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.
Collins analyst says, "Strong operating metrics indicate 3Q softness was temporary: 1) North America seated diners grew 38% Y/Y to 24.6M (vs. 42% in 3Q), significantly faster than industry diner growth of 2%; 2) North America installed ERB restaurant base grew 17% Y/Y to 15.3K restaurants; 3) International seated diners grew 45% Y/Y; 4) International ERB restaurant base grew 29% Y/Y to 2.7K restaurants; 5) Connect restaurant base in North America grew 19% Q/Q, 159% Y/Y to 1.8K restaurants."
"4Q performance shows growth and margin story is still intact and investor
concerns are overblown."
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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