Bank of America Downgrades Renren to Underperform (RENN)
Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Renren in a research note on Wednesday, March 19th. They now have a $2.70 price target on the stock. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and an average price target of $3.18.
Renren (NASDAQ:RENN) traded up 1.58% during mid-day trading on Thursday, hitting $3.22. The stock had a trading volume of 631,048 shares. Renren has a 52 week low of $2.75 and a 52 week high of $4.79. The stock has a 50-day moving average of $3. and a 200-day moving average of $3.31. The company has a market cap of $1.156 billion and a price-to-earnings ratio of 18.54.
Renren (NASDAQ:RENN) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.15. The company had revenue of $24.90 million for the quarter, compared to the consensus estimate of $25.49 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Analysts expect that Renren will post $-0.28 EPS for the current fiscal year.
Renren Inc operates real name social networking Internet platform in the People’s Republic of China. Its platform enables its users to connect and communicate with each other, share information and user-generated content, play online games, listen to music, shop for deals and a range of other features and services.
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