Dangdang (NASDAQ:DANG)‘s stock had its “outperform” rating reiterated by investment analysts at Oppenheimer in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. They currently have a $11.00 price objective on the stock, up from their previous price objective of $9.50. Oppenheimer’s price target would suggest a potential upside of 6.38% from the stock’s previous close.
The analysts wrote, “DANG reported mixed 3Q results, but provided better than expected 4Q revenue guidance. Margins continued to improve y/y for the fifth consecutive quarter, leading to the highest gross and operating margins since 1Q11. We expect DANG’s operating margin to turn positive again by 2Q14. We’re raising our revenue and non-GAAP EPADS estimates to reflect management’s guidance and higher margin assumptions. We’re also raising our price target from $9.50 to $11.00 on higher estimates and market multiples. DANG’s valuation remains attractive, trading at ~0.6x 2013E EV/Sales, especially given its strong brand and leadership position (No. 1 online bookstore, No. 3 B2C e-tailer, and No. 5 B2C ecommerce website).”
Shares of Dangdang (NASDAQ:DANG) traded up 0.29% on Monday, hitting $10.37. 971,485 shares of the company’s stock traded hands. Dangdang has a 52-week low of $3.70 and a 52-week high of $12.19. The stock’s 50-day moving average is $9.85 and its 200-day moving average is $8.24. The company’s market cap is $832.9 million.
Dangdang (NASDAQ:DANG) last released its earnings data on Thursday, November 14th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.12) by $0.06. The company had revenue of $249.30 million for the quarter, compared to the consensus estimate of $261.72 million. During the same quarter last year, the company posted ($0.20) earnings per share. Dangdang’s revenue was up 21.7% compared to the same quarter last year. On average, analysts predict that Dangdang will post $-0.43 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at HSBC cut their price target on shares of Dangdang from $12.63 to $12.00 in a research note to investors on Friday. Finally, analysts at Zacks upgraded shares of Dangdang from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 31st. They now have a $9.20 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $33.90.
E-Commerce China Dangdang Inc (NASDAQ:DANG) is a holding company.
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