Seeking Alpha

OpenTable (OPEN +2.4%) is rallying after JPMorgan launches coverage with an Overweight and $53...

OpenTable (OPEN +2.4%) is rallying after JPMorgan launches coverage with an Overweight and $53 PT. "OpenTable’s 48% penetration of North American reservation-taking restaurants gives the company a sizable first-mover advantage," says analyst Kaizad Gotla. He expects NA restaurant adds to slow, but sees seated diner growth accelerating due to search, mobile, and social networking efforts, and an ongoing shift from phone-based to online reservations (still only 15%-20% of total).
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