Benchmark Cuts Price Target and Estimates on Travelzoo (TZOO); A Different Story Now
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Price: $6.66 -0.6%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark maintains a 'Hold' on Travelzoo (NASDAQ: TZOO) price target of $22.00 (from $24.00).
Analyst, Daniel L. Kurnos, said, "Weakness in Search was offset by resilience in Travel and slightly better than expected results in Local...The real story, however, stemmed from management’s plan to spend an incremental $3-$4 million per quarter over the next 6 quarters on S&M expense alone, resulting in dilution of $0.15-$0.20 per quarter, in an effort to re-accelerate top-line growth. We expect improved revenue growth and gross margins could partially offset the increased marketing spend, but now forecast 2013 EBITDA may be roughly flat y/y." (FY12 EPS estimate from $1.53 to $1.40)
For an analyst ratings summary and ratings history on Travelzoo click here. For more ratings news on Travelzoo click here.
Shares of Travelzoo closed at $20.98 yesterday.
Analyst, Daniel L. Kurnos, said, "Weakness in Search was offset by resilience in Travel and slightly better than expected results in Local...The real story, however, stemmed from management’s plan to spend an incremental $3-$4 million per quarter over the next 6 quarters on S&M expense alone, resulting in dilution of $0.15-$0.20 per quarter, in an effort to re-accelerate top-line growth. We expect improved revenue growth and gross margins could partially offset the increased marketing spend, but now forecast 2013 EBITDA may be roughly flat y/y." (FY12 EPS estimate from $1.53 to $1.40)
For an analyst ratings summary and ratings history on Travelzoo click here. For more ratings news on Travelzoo click here.
Shares of Travelzoo closed at $20.98 yesterday.
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