UPDATE: Oppenheimer Downgrades Zipcar (ZIP) to Perform; Marketing Misstep and UK Headwinds
Tweet
Share
E-mailGet Alerts ZIP Hot Sheet
Price: $10.49 -1.22%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
(Updated - August 3, 2012 12:44 PM EDT)
Oppenheimer downgraded Zipcar (NASDAQ: ZIP) from Outperform to Perform with a price target of $8.00 (from $24.00).
Analyst, Jason Helfstein, said, "Following disappointing 2Q results and guidance, we downgrade ZIP shares...We think ZIP needs to overhaul its marketing department to focus on member growth and drive existing member usage, both likely to take several quarters. Additionally, the UK continues to face economic headwinds. While investors are likely to blame competition, management acknowledged mistakes with 2Q marketing efforts."
For an analyst ratings summary and ratings history on Zipcar click here. For more ratings news on Zipcar click here.
Shares of Zipcar closed at $10.63 yesterday.
Oppenheimer downgraded Zipcar (NASDAQ: ZIP) from Outperform to Perform with a price target of $8.00 (from $24.00).
Analyst, Jason Helfstein, said, "Following disappointing 2Q results and guidance, we downgrade ZIP shares...We think ZIP needs to overhaul its marketing department to focus on member growth and drive existing member usage, both likely to take several quarters. Additionally, the UK continues to face economic headwinds. While investors are likely to blame competition, management acknowledged mistakes with 2Q marketing efforts."
For an analyst ratings summary and ratings history on Zipcar click here. For more ratings news on Zipcar click here.
Shares of Zipcar closed at $10.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Canaccord Genuity Downgrades Antofagasta Plc. (ANTO:LN) (ANFGF) to Hold
- Stifel Downgrades Knight Transportation (KNX) to Hold
- Iberdrola SA (IBE:SM) (IBDRY) PT Raised to EUR13.50 at Morgan Stanley
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesSign 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!
