Oppenheimer Analysts Reiterate Outperform on Renren Inc (RENN)
Tweet
Share
E-mailGet Alerts RENN Hot Sheet
Price: $1.65 --0%
Rating Summary:
1 Buy, 7 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 13 | New: 50
Rating Summary:
1 Buy, 7 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 13 | New: 50
Join SI Premium – FREE
Today Oppenheimer maintained an Outperform rating and an $8 price target on Renren Inc (NYSE: RENN).
"Limited visibility into its online ad growth, mobile monetization and margin trajectory may keep investors on the sideline in the near term," said Andy Yeung, adding that "While the online ad segment is likely to remain weak in 3Q, growth momentum in gaming and group-buying businesses should continue
through 4Q12."
He revised 3Q sales and non-GAAP EPADS estimates from $47.5M/($0.04) to $49.8M/($0.05) to reflect management guidance and our revised margin assumptions.
For an analyst ratings summary and ratings history on Renren Inc click here. For more ratings news on Renren Inc click here.
Shares of Renren Inc closed at $4.11 yesterday.
"Limited visibility into its online ad growth, mobile monetization and margin trajectory may keep investors on the sideline in the near term," said Andy Yeung, adding that "While the online ad segment is likely to remain weak in 3Q, growth momentum in gaming and group-buying businesses should continue
through 4Q12."
He revised 3Q sales and non-GAAP EPADS estimates from $47.5M/($0.04) to $49.8M/($0.05) to reflect management guidance and our revised margin assumptions.
For an analyst ratings summary and ratings history on Renren Inc click here. For more ratings news on Renren Inc click here.
Shares of Renren Inc closed at $4.11 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades Barry Callebaut AG (BARN:SW) (BYCBF) to Buy
- Carl Zeiss Meditec AG (AFX:GR) (CZMWY) PT Lowered to EUR115 at HSBC
- Goldman Sachs (GS) PT Raised to $470 at HSBC
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
