OpenTable, Inc. Discusses Q3 2013 Results (Webcast)Nov. 5, 2013
PR Newswire (Apr 9, 2014)
at CNBC.com (Apr 3, 2014)
PR Newswire (Mar 12, 2014)
PR Newswire (Feb 27, 2014)
PR Newswire (Feb 19, 2014)
PR Newswire (Feb 6, 2014)
PR Newswire (Feb 6, 2014)
PR Newswire (Feb 5, 2014)
PR Newswire (Feb 4, 2014)
at CNBC.com (Jan 31, 2014)
PR Newswire (Jan 29, 2014)
PR Newswire (Jan 15, 2014)
at CNBC.com (Dec 19, 2013)
at MarketWatch.com (Dec 13, 2013)
at CNBC.com (Dec 13, 2013)
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.
Thursday, Apr 39:36 AM
Thursday, Apr 39:36 AM| Comment!
- OpenTable (OPEN +3.2%) has been upgraded to Buy by Citi.
- Level 3 (LVLT -1.3%) has been cut to Hold by Gabelli.
- Altera (ALTR +1.2%) and Xilinx (XLNX +0.8%) have been started at Outperform by FBR. Separately, Piper has assumed coverage of Altera at Overweight, and Xilinx at Neutral.
- Telus (TU -1.2%) has been cut to Neutral by Macquarie. The carrier recently announced a CEO change.
Wednesday, Feb 124:05 PM
Wednesday, Feb 124:05 PM| 1 Comment
- Yahoo (YHOO -1%) has followed up on its Yelp search content deal by more deeply integrating OpenTable's (OPEN +1.9%) content and reservation options into its search results.
- Sources tell Kara Swisher the move is part of a local content redesign (has strong mobile tie-ins) for Yahoo search, as well as the company's broader efforts (previous) to invest in search tech and thereby reverse long-term share losses to Google.
- Bing, whose search engine powers Yahoo's results (Yahoo maintains flexibility in how results are displayed/augmented), has already struck content integration deals with a list of partners that includes Yelp, OpenTable, Facebook, and Twitter. On a global level, the efforts have only had a modest impact on Bing's search share.
Thursday, Feb 66:12 PM
Thursday, Feb 66:12 PM| Comment!
- In tandem with its Q4 report, OpenTable (OPEN) has announced it's acquiring Ness Computing, developer of an iOS app that offers personalized restaurant recommendations, for $17.2M ($11.3M net of estimated cash on hand).
- OpenTable suggests it will use Ness' team and technology to improve the restaurant discovery/recommendation features of its own apps; Ness' app will be discontinued. The deal comes a year after OpenTable acquired Foodspotting, maker of a well-used app for finding and sharing restaurant dishes.
- Shares have added to their AH losses, as OpenTable's soft EPS guidance (the result of aggressive 2014 investment plans) overshadows a Q4 beat. The company's seated diners rose 34% Y/Y in Q4 to 44M, and its installed restaurant base 15% to 31.5K.
Thursday, Feb 65:12 PM
Thursday, Feb 65:12 PM| Comment!
- OpenTable (OPEN) expects Q1 revenue of $53.3M-$54.9M and EPS of $0.39-$0.43 vs. a consensus of $54.3M and $0.54. Full-year guidance is for revenue of $221M-$229M and EPS of $1.71-$1.92 vs. a consensus of $223M and $2.21. Shares -1.9% AH. (Q4 results, PR)
- NCR expects 12%-14% 2014 revenue growth and EPS of $3-$3.10. The consensus, which might not fully take into account the recent Digital Insight and Alaric Systems acquisitions, is for 7.5% revenue growth and EPS of $3.10. Shares -6% AH. (Q4 results, PR)
- ON Semi (ONNN) expects Q1 revenue of $695M-$725M, above a $675.5M consensus. Shares +4% AH. (Q4 results, PR)
- Audience (ADNC) expects Q1 revenue of $33M-$36M and EPS of -$0.17 to -$0.21 vs. a consensus of $33.5M and -$0.09. Shares unchanged for now. (Q4 results, PR)
Tuesday, Feb 411:29 AM
Tuesday, Feb 411:29 AM| 1 Comment
- 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.
Friday, Dec 132013, 11:41 AM
Friday, Dec 132013, 11:41 AM| 6 Comments
- Apple (AAPL) has filed a patent application for an advanced restaurant reservation/ordering system. The systems would be aware of how much time a customer has spent at a table, would alert waiting customers when a table is ready, and would provide menu recommendations based on customer preferences.
- OpenTable (OPEN -4.1%) investors appear nervous about the patent application. However, taking share from OpenTable in the face of the restaurant reservation leader's huge network effect would be an uphill battle, especially if (as one would expect) Apple's offering is only available on mobile devices to iOS users.
- OpenTable's services have been integrated with Siri for more than a year.
Monday, Dec 22013, 9:49 AM
Monday, Dec 22013, 9:49 AM| Comment!
- Groupon (GRPN -5.4%), OpenTable (OPEN -5%), and Trulia (TRLA -5.4%) have been cut to Neutral by Goldman.
- Sprint (S -2.3%) has been cut to Neutral by Macquarie.
- Rackspace (RAX +3.4%) has been upgraded to Outperform by Raymond James.
- Avago (AVGO +2.7%) has been upgraded to Buy by DA Davidson.
- Marketo (MKTO +7.3%) has been added to Goldman's Conviction Buy list.
- Ruckus (RKUS +3.1%) has been upgraded to Buy by Goldman.
- Palo Alto Networks (PANW -3.2%) has been cut to Outperform from Strong Buy by Raymond James.
- American Superconductor (AMSC -2.5%) has been cut to Neutral by Ascendiant Capital.
- Fairchild (FCS -4.2%) has been cut to Market Perform by Raymond James.
- Tableau (DATA -1.8%) has been started at Sector Perform by RBC.
Wednesday, Nov 62013, 10:13 AM
Wednesday, Nov 62013, 10:13 AM| Comment!
- After digesting its 2013 gains over the last two months, OpenTable (OPEN +11.9%) is breaking out to new highs in response to its Q3 beat and a major pickup in restaurant adds.
- After growing its installed base by just 317 restaurants in Q2 and 440 in Q1, OpenTable managed to add 2,690 restaurants in Q3 thanks to more aggressive marketing (Piper called it last month), raising the size of its total base to 30,964 (+17% Y/Y).
- That contributed to a 30% Y/Y increase in seated diners (up from 26% in Q2) to 38.5M, a 27% increase in reservation revenue (+24% in Q2) to $27.8M, and an 11% increase in subscription revenue (+8% in Q2) to $15.8M.
- In spite of lower penetration, OpenTable's international ops continue to underperform. North American revenue +18% Y/Y to $40.6M, international revenue +16% to $6.1M. North American installed restaurants +23% to 23.3K, international installed restaurants +4% to 7.7K.
- Due in part to marketing spend, costs/expenses rose 19% Y/Y, up from 6% growth in Q2 and slightly outpacing rev. growth of 18%. 41% of seated diners booked via mobile devices, up from 38% in Q2.
- Q4 guidance is for revenue of $50.7M-$52.1M and EPS of $0.49-$0.53, in-line with a consensus of $50.9M and $0.52. Craig-Hallum has upgraded shares to Hold.
- Q3 results, PR, CC transcript
Wednesday, Nov 62013, 9:15 AM
Wednesday, Nov 62013, 9:15 AM| Comment!
- Top 10 Gainers: MSPD +69%. MCHX +22%. REGI +14%. BCOR +12%. OXBT +10%. AXAS +10%. MYGN +9%. YRCW +7%. VRNG +7%. ANV +7%. AU +6%. ABIO +6%. Z +6%. OPEN +5%. RMTI +5%. NQ +5%. ECOM +5%.
- Top 10 Losers: STP -41%. CRIS -18%. TSLA -13%. MELI -11%. TNGO -10%. SZYM -10%. NAVB -7%. CYTX -7%. ANF -7%. CTRP -6%.
Tuesday, Nov 52013, 5:11 PM
Friday, Oct 42013, 2:54 PM
Friday, Oct 42013, 2:54 PM| 1 Comment
- Piper's Michael Olson, who upgraded OpenTable (OPEN +1.2%) to Overweight this morning, thinks the restaurant reservation platform's growth strategy is "shifting toward a renewed focus on consumer marketing and mobile growth," and is a fan of the move.
- Olson sees OpenTable's efforts, which include the hiring of new marketing personnel and are expected to feature a pickup in mobile ad spend, leading to "an acceleration in OpenTable adoption during 2014-15." That, in turn, is expected to yield "an inflection point similar to what occurred for online travel during the early 2000s."
- His PT is now at $80, or a full 35x a 2014 EPS estimate of $2.28 (consensus is at $2.21).
- Shares now +44% YTD.
Friday, Oct 42013, 9:52 AM
Friday, Oct 42013, 9:52 AM| 1 Comment
- ServiceNow (NOW +2.5%) has been upgraded to Outperform by Northland.
- OpenTable (OPEN +1.6%) has been upgraded to Overweight by Piper.
- Portugal Telecom (PT) has been upgraded to Buy by Berenberg a day after getting cut to Neutral by Citi, and two days after announcing plans to merge with Oibr.
- iGate (IGTE -3.1%) has been cut to Neutral by Nomura.
- Acxiom (ACXM -1.1%) has been cut to Underperform by BMO.
- Align Technology (ALGN -3.4%) has been cut to Neutral by Baird.
- NXP (NXPI +0.7%) has been started at Outperform by Pac Crest.
- Sensata (ST +0.9%) has been started at Outperform by Wells Fargo.
- RingCentral (RNG +0.2%), which went public just a week ago, has been started at Outperform by Northland.
Friday, Sep 62013, 9:23 AM
Friday, Sep 62013, 9:23 AM| Comment!
- In a coverage launch for Internet stocks, Barclays has started Zillow (Z), YELP, and Shutterfly (SFLY) at Overweight, Zynga (ZNGA), OpenTable (OPEN), HomeAway (AWAY,), and InterActiveCorp (IACI) at Equal Weight, and Vistaprint (VPRT) at Underweight. Z +1%. YELP +4.1% to new post-IPO highs. Deutsche started coverage on Yelp at Buy after the close yesterday.
- Canaccord has started Splunk (SPLK), Datawatch (DWCH), and ServiceNow (NOW) at Buy.
- EZchip (EZCH) has been upgraded to Buy by Chardan Capital.
- VeriFone (PAY) has been upgraded to Outperform by Wedbush following its FQ3 beat and solid FQ4 guidance. PAY +7.3%.
- T-Mobile USA (TMUS) has been upgraded to Outperform by William Blair. TMUS +0.9%.
- InterXion (INXN) has been cut to Market Perform by Oppenheimer.
Thursday, Sep 52013, 9:23 AM
Thursday, Sep 52013, 9:23 AM| Comment!
- OpenTable (OPEN) has received a two-notch downgrade to Underweight, and Zillow (Z) a one-notch downgrade to Underweight, by Morgan Stanley. Z -2.5%.
- Groupon (GRPN) has been upgraded to Overweight by Morgan Stanley. GRPN +5.6%.
- YY has been upgraded to Outperform by Pac Crest. YY +4%.
- IPG Photonics (IPGP) has been upgraded to Buy by Noble Financial.
Monday, Aug 122013, 2:35 PM
Monday, Aug 122013, 2:35 PM| 3 Comments
- OpenTable (OPEN +3.9%) and Rovi (ROVI +1.4%) have spiked higher after Facebook (FB -0.5%) announces companies will be able to take OpenTable reservations and display Rovi TV listings data on their Facebook pages.
- OpenTable has integration deals with 600+ sites/services. They currently account for 5%-10% of the company's monthly booked restaurant seats.
- Facebook has made several moves in recent months (I, II) to improve the quality of the local content/services provided by its mobile site and apps. Yelp (YELP -1.2%) has sold off more than once thanks to those moves, but the company is still differentiated from Facebook (and other rivals) via the breadth of its local reviews database.
- OpenTable's Facebook deal comes at a time when the company is seeing fresh competition from Yelp (remains a partner for now) and Groupon. It also comes shortly after OpenTable began testing a payments system for its restaurant bookings.
Thursday, Aug 12013, 6:13 PM
Thursday, Aug 12013, 6:13 PM| Comment!
- OpenTable's (OPEN) Q3 guidance is for revenue of $45M-$46.3M and EPS of $0.38-$0.42, below a consensus of $46.5M and $0.48.
- 2013 guidance is for revenue of $186.2M-$190.1M and EPS of $1.80-$1.92 vs. a consensus of $188M and $1.93.
- Seated diners +26% Y/Y in Q2 38.2M (+25% in Q1), installed restaurant base grew by 317 Q/Q to 28,274 (grew by 440 in Q1).
- North American restaurant base +12% Y/Y to 10.6K, international base +15% to 7.7K. 35M North American diners (+25%), still only 3.3M international diners (+46%).
- Restaurant revenue +24% Y/Y (+21% in Q1), thanks to both diner growth and a promotional pricing change. Subscription revenue +8% (+6% in Q1).
- Costs/expenses +6% vs. rev. growth of 15%.
- Q2 results, PR
- Previous: Rezbook acquisition
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Mark Krieger:: just the opposite.. a very dangerous/risky play
losbronces:: I decided to play it by buying puts. Bought 70 Febs.