OpenTable rallies ahead of earnings on Citi upgrade


Citi's Mark May has upgraded OpenTable (OPEN +2.9%) to Neutral ahead of the restaurant reservation platform's Thursday Q4 report, and raised hit PT to $74 from $68.

May thinks OpenTable's results will be at least in-line, is upbeat about the company's (mobile-focused) product cycle, and thinks there's less near-term risk of multiple compression.

Shares have gradually trended lower since soaring to new highs in November, following OpenTable's market-pleasing Q3 report.

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  • keen1
    , contributor
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    Even though OpenTable is making its presence known in almost every restaurant that operates in a metropolitan area. Their format is the bane of many restaurateurs existence. Eventually a new provider will come out and providing restaurants with more control of their floors flow. For now though, signing with OpenTable fills reservation sheets and provides reviews that bring in business.
    6 Feb 2014, 02:10 PM Reply Like
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