Active Network Lowered to Hold at Jefferies Group (ACTV)
Active Network (NASDAQ:ACTV) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $14.50 price objective on the stock, up from their previous price objective of $10.00. Jefferies Group’s price target would suggest a potential upside of 1.33% from the company’s current price.
The analysts wrote, “Two months after management disclosed publicly that the Co’s BOD is evaluating several expressions of interest (ranging from investment to acquisition of ACTV), Active Network announced a definitive agreement to be acquired by Vista Equity Partners for $14.50 / share in cash (~$1.05B total valuation). We change our rating to Hold and PT to $14.50.”
Active Network (NASDAQ:ACTV) traded up 0.49% on Tuesday, hitting $14.38. 6,605,787 shares of the company’s stock traded hands. Active Network has a 52-week low of $3.83 and a 52-week high of $14.38. The stock has a 50-day moving average of $10.22 and a 200-day moving average of $7.51. The company’s market cap is $896.8 million.
Active Network (NASDAQ:ACTV) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.02. The company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $130.90 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that Active Network will post $-0.14 earnings per share for the current fiscal year.
Separately, analysts at RBC Capital raised their price target on shares of Active Network (NASDAQ:ACTV) from $6.00 to $11.00 in a research note to investors on Friday, August 2nd. They now have a “sector perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.63.
The Active Network, Inc is a provider of organization-based cloud computing applications serving a range of customer groups, including business solutions, community activities, outdoors and sports.
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