Seeking Alpha
 

OpenTable, Inc. (OPEN)

- NASDAQ
OPEN is defunct.
  • Jul. 26, 2013, 9:43 AM
    Goldman upgrades OpenTable (OPEN +1.6%) to Buy from Neutral (price target $76). Analyst Heath Terry says the sell-off in the shares triggered by Yelp's acquisition of SeatMe creates "an opportunity ahead of what [Goldman expects] to be a strong quarter of seated diner growth [and] increasing product innovation." Terry also says the 9M reservations per month booked on the site "generates a massive barrier" to entry.
    | Comment!
  • Jul. 19, 2013, 6:50 PM
    Heavily-shorted Yelp (YELP +6%) made new highs again, aided by the SeatMe deal and perhaps also news of Apple's purchase of business/POI location database Locationary. Apple's willingness to improve Maps via M&A was reinforced after the bell by news the company has bought popular local transit app HopStop. Needham thinks Yelp could follow up on the SeatMe deal and the launch of an order/payments platform by expanding into other complementary fields such as "event management, food delivery, payments, and SMB marketing services." Yelp says SeatMe won't affect its partnership with OpenTable (OPEN -4.5%), whose shares dove because of the deal. Yelp's Q2 results are due on July 31, and OpenTable's on Aug. 1.
    | Comment!
  • Jul. 18, 2013, 5:59 PM
    Yelp (YELP) wants to take on OpenTable (OPEN): the local reviews leader is spending $12.7M (mostly in stock) to acquire SeatMe, owner of a Web/iPad reservation platform for restaurants and nightlife venues. Yelp notes it has ~1M U.S. business listings in the restaurant and nightlife categories, giving it plenty of reach to leverage SeatMe's platform. The announcement comes a week after Yelp launched a platform for taking orders and processing transactions, and two weeks after Groupon launched a high-end restaurant reservation service. OPEN -5.5% AH. YELP +1.4%.
    | Comment!
  • Jul. 18, 2013, 5:38 PM
    After-hours top gainers, as of 5:15 p.m.: FRO +6%. ALGN +5%. HOLX +5%. SWKS +5%. ALNY +5%.
    After-hours top losers: ICUI -8%. PSDV -6%. ISRG -6%. OPEN -6%. MSFT -5%.
    | Comment!
  • Jul. 9, 2013, 6:17 PM
    More on Citi's Internet coverage launch: Analyst Mark May, taking over for the fired Mark Mahaney, predicts Google (GOOG) will benefit from advertiser and publisher interest in consolidating ad sales/spend, so as to benefit from better scale and data. He notes Google has made the most progress in creating an end-to-end ad platform, but cautions more work is needed. May thinks Amazon (AMZN) can post at least a 17% CAGR over the next 5 years, and believes investors are getting AWS and other growth initiatives for free at current levels. He cites slowing top-line growth (expected to fall to 10%-15% in the next 2-3 years), caused in part by high penetration rates, as a reason for starting OpenTable (OPEN) at Sell. OPEN -3.5% AH.
    | 3 Comments
  • Jul. 9, 2013, 5:30 PM
    After-hours top gainers, as of 5:15 p.m.: NUS +7%. HLF +3%. HELE +2%. GOGO +2%. OSTK +2%.
    After-hours top losers: FLY -7%. KYN -5%. OPEN -4%. EXP -3%. INSY -2%.
    | Comment!
  • Jul. 9, 2013, 4:30 PM
    Citi launches coverage on the Internet services space after the bell. Google (GOOG), Amazon (AMZN), Yahoo (YHOO), AOL, and eBay (EBAY) have been started at Buy, Netflix (NFLX), Facebook (FB), LinkedIn (LNKD), Yelp (YELP), and Zillow (Z) at Neutral, and OpenTable (OPEN) at Sell. OPEN -4% AH.
    | 1 Comment
  • Jul. 1, 2013, 11:27 AM
    Groupon (GRPN +2%) is both moving upmarket and challenging OpenTable (OPEN -1.7%) by launching Groupon Reserve, a reservation service for high-end restraurants that promises discounts of up to 40%.10 U.S. markets are initially supported; Groupon plans to add more U.S. cities, and some international ones, by year's end. Reserved relies on a reservation engine obtained via the acquisition of Savored, and (unlike OpenTable) is focused on moving inventory at the last minute or during periods of weak demand. Groupon adds Reserve will eventually feature deals from "top beauty, product, travel and entertainment brands, as well as similar reservations capabilities for spas, salons and hotels."
    | Comment!
  • Jun. 14, 2013, 10:25 PM
    OpenTable's (OPEN -0.8%) acquisition of JustChalo for $11M caused more of a ripple in its stock price than its projected knock to EPS this year of 2 cents per share - perhaps because it underlines that the company isn't as happy as it could be with its mobile solutions. Restaurant reservations completed on OPEN via mobile grew ~50% since last year but still account for just over one-third of total rez. (PR)
    | Comment!
  • May. 22, 2013, 2:00 PM
    OpenTable (OPEN -5.1%) slides as investors seem displeased with its Q1 Restaurant Industry Index which shows a 1.4% decline in the number of guests served in reservation-taking establishments in North America during the quarter. Some markets (notably Atlanta, Chicago, Philadelphia, and to a lesser extent Boston) faced "notable headwinds" as Y/Y growth rates swung squarely into negative territory. (PR)
    | Comment!
  • May. 21, 2013, 11:18 AM
    Food delivery websites Seamless and Grubhub will merge to create a company that could take the niche industry to the next level. Though online food ordering sites are a hodge-podge of various options, the Seamless-Grubhub combination could lead to an expansive national rollout and a dominant industry position in the space. Should Yelp (YELP +1.4%) or Open Table (OPEN +2.7%) be worried about the threat of expanded services from the new company?
    | Comment!
  • May. 10, 2013, 11:18 AM
    OpenTable (OPEN +2%) rallies after Jim Cramer gives it a favorable mention (video); the Mad Money host declares the restaurant reservation platform faces no real competition (NoWait might disagree), and that its occasionally-criticized fee structure is justified by the value that it delivers to restaurants. Cramer: "There are other companies that do the same thing, but none of them have the scope and scale to be truly competitive right now." Cramer's remarks come as OpenTable revamps its Android apps to provide better Google Maps/Calendar support.
    | Comment!
  • May. 3, 2013, 5:04 PM
    OpenTable (OPEN +5.5%) closed sharply higher today after trading lower AH yesterday in response to the light revenue guidance accompanying its Q1 report. Healthy business metrics could be a reason: seated diners +25% Y/Y in Q1, up from Q4's 22%, and OpenTable's restaurant base rose by 440 to 27,957. Restaurant revenue +21% Y/Y (same as Q4), subscription revenue +8% (+10% in Q4). International seated diners +37% Y/Y, but revenue only +7%. North American seated diners +24%, revenue (87% of total) +17%. On the earnings call, management noted 36% of NA seated diners originated on a mobile device, up from Q4's 33%.
    | Comment!
  • May. 2, 2013, 6:51 PM
    Tech guidance roundup: 1) OpenTable (OPEN - earnings) expects Q2 revenue of $44.9M-$46.2M and EPS of $0.45-$0.49 vs. a consensus of $46.7M and $0.47. 2013 guidance is for revenue of $185.3M-$190.9M and EPS of $1.88-$2.02 vs. a consensus of $189.6M and $1.91. 2) ON Semi (ONNN - earnings) expects Q2 revenue of $675M-$715M vs. a $702.6M consensus. 3) Active Network (ACTV - earnings) expects Q2 revenue of $128M-$133M, below a $136.4M consensus. No 2013 guidance due to recent management upheaval. OPEN -3.1% AH. ONNN -2.4%. ACTV -0.7%. (OpenTable PR) (ON Semi PR) (Active Network PR)
    | Comment!
  • May. 2, 2013, 4:35 PM
    OpenTable (OPEN): Q1 EPS of $0.45 beats by $0.02. Revenue of $45.5M misses by $0.08M. Shares -4.2% AH. (PR)
    | Comment!
  • May. 2, 2013, 12:10 AM
    Notable earnings after Thursday’s close: ACLS, ACTV, ADNC, AGNC, AIG, ALSK, AREX, ARNA, ATHN, BBG, BCOR, BERY, BRKR, CBI, CNQ, DNB, DOLE, DRIV, EGO, ELON, ELX, FBHS, FLR, FLT, GEOS, GHDX, GILD, GMED, GTY, HAIN, HI, HMA, HTGC, INVN, KOG, KRFT, LNKD, MKH, MTZ, MYL, NBIX, NFG, NILE, NSR, ONNN, OPEN, PKT, PWER, QLGC, SKUL, SPF, SPWR, SWN, TDC, THOR, TPX, TSYS, TTMI, WTW, WWWW, XL, ZAGG
    | Comment!
Company Description
OpenTable, Inc. provides solutions that form an online network connecting reservation-taking restaurants & people who dine at those restaurants. Its solutions are Electronic Reservation Book for restaurant customers and reservation website for diners.
Sector: Services
Country: United States