OpenTable Rating Lowered to Hold at Wunderlich (OPEN)
OpenTable (NASDAQ:OPEN) was downgraded by analysts at Wunderlich from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. They currently have a $72.00 price objective on the stock. Wunderlich’s price target would suggest a potential upside of 3.63% from the company’s current price. The analysts noted that the move was a valuation call.
OpenTable (NASDAQ:OPEN) traded up 0.22% during mid-day trading on Friday, hitting $69.63. 96,014 shares of the company’s stock traded hands. OpenTable has a one year low of $39.94 and a one year high of $76.40. The stock’s 50-day moving average is $71.04 and its 200-day moving average is $67.14. The company has a market cap of $1.597 billion and a P/E ratio of 56.95.
OPEN has been the subject of a number of other recent research reports. Analysts at Piper Jaffray Cos. upgraded shares of OpenTable from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, October 4th. They now have a $80.00 price target on the stock, up previously from $65.00. Separately, analysts at Barclays initiated coverage on shares of OpenTable in a research note to investors on Friday, September 6th. They set an “equal weight” rating on the stock. Finally, analysts at Morgan Stanley downgraded shares of OpenTable from an “equal weight” rating to an “underweight” rating in a research note to investors on Thursday, September 5th. They now have a $60.00 price target on the stock, up previously from $50.00. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.47.
In other OpenTable news, CFO I. Duncan Robertson unloaded 3,000 shares of the company’s stock on the open market in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $69.64, for a total value of $208,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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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