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Renren Inc. (RENN) is scheduled to report its Q2 2012 results on August 7, 2012, after the bell. The street expects EPS and revenue of ($0.04) loss and $42.23M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from RENN and the news from its closest competitors.

Renren Inc. Revenue and Net Income History

Recent EPS Actuals vs. Estimates

In the last quarter it reported ($0.03) loss per share, just above analyst estimates of ($0.04) loss.

Renren Inc. EPS Historical Results vs Estimates

The consensus EPS estimate is ($0.04) loss based on 7 analysts' estimates, down from $0.00 a year ago. Revenue estimates are $42.23M, up from $30.40M a year ago. The median target price by analysts for the stock is $4.85.

Average recommendation: Hold

Source: Marketwatch

Latest News

  • On May 15, 2012, Renren Inc announced that for second quarter of 2012, it expects revenues in an amount ranging from USD41-USD43 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $46 million for second quarter of 2012.
  • On April 11, 2012, Renren Inc announced partnership with Intel Corporation and Feitian, innovator of security technologies and applications, to introduce Intel Identity Protection Technology to Renren.com SNS platform.
  • On March 9, 2012, Renren Inc announced that for the first quarter of 2012 it expects to be in the range of USD28 million to USD30 million. For fiscal 2012, it expects revenues to be between USD177 million to USD183 million.

Competitors

Baidu (BIDU), SINA Corporation (SINA), and Sohu.com (SOHU) are considered major competitors for Renren. I will also include Facebook (FB) for comparison and the table below provides the key metrics for these companies and the industry.

Renren Inc. key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

RENN Chart
(Click to enlarge)

RENN data by YCharts

Competitors' Latest Development

  • On July 23, 2012, Baidu, Inc. announced that it currently expects to generate total revenues in an amount ranging from RMB6.245 billion ($983.0 million) to RMB6.410 billion ($1.009 billion) for the third quarter of 2012.
  • On July 9, 2012, Milberg LLP reminds investors that class action lawsuits were filed in the United States District Court for the Southern District of New York on behalf of purchasers of Facebook, Inc. common stock pursuant to the Company's May 18, 2012 initial public offering (the IPO).
  • On July 6, 2012, Yahoo! Inc. (NASDAQ:YHOO) And Facebook Inc. announced that they have entered into definitive agreements that launch a new advertising partnership, extend and expand distribution arrangements, and settle all pending patent claims between the companies.
  • On July 3, 2012, Reuters reported that General Motors Co. (NYSE:GM) and Facebook Inc are discussing the return of the U.S. automaker as a paid advertiser almost two months after GM said it would stop running ads on the social networking website.
  • On June 24, 2012, Reuters reported that Research In Motion, Ltd. (RIMM) is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported.
  • On June 20, 2012, Block & Leviton LLP, a Boston-based law firm representing investors nationwide, announced that it has filed a securities class action lawsuit against Facebook Inc., certain of the Company's officers and directors, and the underwriters of Facebook's May 18, 2012 initial public offering (the IPO).
  • On June 20, 2012, Reuters reported that Yahoo! Inc. and Facebook Inc believe settlement talks in a high profile patent lawsuit would be helped if a U.S. judge pushed back certain deadlines in the case, according to a court filing on Tuesday.
  • On June 19, 2012, Former Alabama Attorney General Troy King's law firm, King & Nix, announced that it has joined forces with Morgan & Morgan in filing a class action in the United States District Court for the Southern District of New York on behalf of purchasers of Facebook Inc (Facebook) who purchased or otherwise acquired shares of common stock pursuant to or traceable to the Company's May 18, 2012 initial public offering (NYSEARCA:IPO).
  • On June 18, 2012, Reuters reported that Facebook Inc is buying Face.com, the company that now provides facial-recognition technology used by the social network to help users identify and tag photos.
  • On June 17, 2012, Reuters reported that Facebook Inc has agreed to pay $10 million t o charity to settle a lawsuit that accused the site of violating users' rights to control the use of their own names, photographs and likenesses.
  • On June 15, 2012, Reuters reported that Facebook Inc is set to file a motion to consolidate all the shareholder lawsuits against the social network site, and is expected to place some blame on the Nasdaq for its botched IPO when it files the motion, the New York Times reported.
  • On June 1, 2012, Criden & Love, P.A. announced that they are investigating the role of Facebook Inc and its IPO underwriters in connection with their failure to fully disclose financial concerns about the Facebook offering.
  • On May 31, 2012, Hach Rose Schirripa & Cheverie, LLP and the Law Offices of Jay Saltzman, P.C. announced that it has filed a class action lawsuit against Facebook Inc, its officers and underwriters in federal court in the Southern District of New York on behalf all persons who purchased Facebook common stock pursuant and/or traceable to the Company's May 18, 2012 initial public offering (the IPO).
  • On May 30, 2012, Milberg LLP announced that class action lawsuits were filed in the United States District Court for the Southern District of New York on behalf of purchasers of Facebook, Inc. common stock pursuant to the Company's May 18, 2012 initial public offering Actions were also filed in the Northern District of California.
  • On May 25, 2012, Abbey Spanier Rodd & Abrams, LLP specializing in class action suits, announced that it filed a class action lawsuit alleging that Facebook, Inc. (Facebook or the Company), Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Goldman Sachs & Co., Merrill Lynch, Pierce Fenner & Smith Incorporated, and Barclays Capital Inc. all failed to provide accurate information about Facebook's decline in earnings growth to all Facebook investors prior to the Company's Initial Public Offering (IPO).
  • On May 25, 2012, Hagens Berman announced that it has filed a securities class-action lawsuit against Facebook, Inc., officers, directors and underwriters of the Company's Initial Public Offering (IPO) on behalf of investors relating to allegations of whisper estimates withheld from all but a few select investors.
  • On May 25, 2012, Pomerantz Haudek Grossman & Gross LLP announced that it has filed a federal securities class action in the United States District Court, Southern District of New York, on behalf of all persons who purchased securities of Facebook Inc. pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's May 18, 2012 initial public offering.
  • On May 25, 2012, The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (K&T) announced that it is investigating potential claims on behalf of Facebook, Inc., investors who sustained losses in their Fidelity Investments accounts as a result of execution problems at the brokerage firm.
  • On May 24, 2012, Reuters reported that reported that Facebook Inc, is considering a stock-listing proposal put forward by the New York Stock Exchange, a source familiar with the situation told Reuters, in the wake of a disappointing Initial Public Offering last week on Nasdaq bourse.
  • On May 21, 2012, The Wall Street Journal reported that shares of Facebook Inc plunged on their second day on the stock market. The shares fell 13.7% early Monday to well below the $38 price for the initial public offering, before pulling off the low. The reasons cited for the decline include an aggressive IPO price, the increased number of shares offered and concerns about Facebook's slowing revenue growth.
  • On May 17, 2012, Facebook Inc announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share.
  • On May 16, 2012, Reuters reported that Facebook Inc, will increase the size of its Initial Public Offering (IPO) by 25%, and could raise as much as $16 billion as strong investor demand.
  • On May 16, 2012, Reuters reported that Facebook Inc is increasing the size of its Initial Public Offering (IPO) by 85 million shares to about 422 million, a source familiar with the matter told Reuters, raising more than $15 billion.
  • On May 15, 2012, Reuters reported that Facebook Inc has raised the price range on its Initial Public Offering (IPO) to $34 to $38 a share in response to strong demand, giving Facebook a valuation exceeding $100 billion.
  • On May 4, 2012, Reuters reported that Facebook Inc aims to raise about $10.6 billion. Facebook indicated an Initial Public Offering (IPO) price range of between $28 and $35 a share on Thursday, which would value Facebook at $77 billion to $96 billion.

Technical Overview


The stock has a market capitalization of $485.63M and is currently trading at $3.70 with a 52 week range of $3.21 - $8.50. The stock's year-to-date performance has been 4.23%. It is currently trading below 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Renren