OpenTable Rating Lowered to Underweight at Morgan Stanley (OPEN)
OpenTable (NASDAQ:OPEN) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Thursday, StockRatingsNetwork reports. They currently have a $60.00 price objective on the stock, up from their previous price objective of $50.00. Morgan Stanley’s price objective points to a potential downside of 21.60% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on OPEN. Analysts at Zacks downgraded shares of OpenTable (NASDAQ:OPEN) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 28th. They now have a $78.10 price target on the stock. Separately, analysts at JPMorgan Chase & Co. set a $68.00 price target on shares of OpenTable (NASDAQ:OPEN) in a research note to investors on Friday, August 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of OpenTable (NASDAQ:OPEN) from $56.00 to $65.00 in a research note to investors on Monday, August 5th. They now have a “neutral” rating on the stock.
Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. OpenTable currently has a consensus rating of “Hold” and an average target price of $63.01.
Shares of OpenTable (NASDAQ:OPEN) traded down 2.36% during mid-day trading on Thursday, hitting $74.725. The stock had a trading volume of 128,451 shares. OpenTable has a one year low of $39.94 and a one year high of $76.40. The stock has a 50-day moving average of $69.74 and a 200-day moving average of $63.91. The company has a market cap of $1.714 billion and a price-to-earnings ratio of 62.73.
OpenTable (NASDAQ:OPEN) last released its earnings data on Thursday, August 1st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $45.60 million for the quarter, compared to the consensus estimate of $46.03 million. During the same quarter last year, the company posted $0.42 earnings per share. OpenTable’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that OpenTable will post $1.89 EPS for the current fiscal year.
In other OpenTable news, Director Paul Pressler unloaded 2,000 shares of OpenTable stock on the open market in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $73.74, for a total value of $147,480.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
OpenTable, Inc (NASDAQ:OPEN) provides solution that forms an online network connecting reservation-taking restaurants and people who dine at those restaurants.
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