Wunderlich began coverage on shares of OpenTable (NASDAQ: OPEN) in a research note issued to investors on Wednesday. The firm issued a buy rating and a $68.00 target price on the stock.
“We believe the company has a strong competitive advantage in the U.S. market due to network effects. It also has plenty of opportunity for growth with 49% of all restaurants and 16% of reservation-making seated diners using the service, with much lower penetration rates in its international markets. We expect OpenTable to become a destination platform for diners anywhere. The company should have steady, sustainable growth ahead.,” the firm’s analyst commented.
A number of other firms have also recently commented on OPEN. Analysts at Raymond James downgraded shares of OpenTable from an outperform rating to a market perform rating in a research note to investors on Thursday, February 21st. Separately, analysts at Oppenheimer downgraded shares of OpenTable to a market perform rating in a research note to investors on Monday, February 11th. Finally, analysts at Piper Jaffray cut their price target on shares of OpenTable from $50.00 to $49.00 in a research note to investors on Friday, February 8th. They now have a neutral rating on the stock.
Two equities research analysts have rated the stock with a buy rating, eleven have issued a hold rating, and two have given a sell rating to the stock. The company currently has an average rating of hold and a consensus price target of $49.27.
OpenTable traded up 5.09% on Wednesday, hitting $58.43. OpenTable has a 52-week low of $33.53 and a 52-week high of $58.35. The stock’s 50-day moving average is currently $53.62. The company has a market cap of $1.332 billion and a price-to-earnings ratio of 53.98.
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