Zacks cut shares of Monster Worldwide (NYSE: MWW) from an outperform rating to a neutral rating in a research note issued to investors on Friday. The firm currently has $5.50 target price on the stock.
Zacks’ analyst wrote, “Monster reported in line earnings for the fourth quarter of 2012 even though revenues were short of expectations. Monster had earlier announced a series of restructuring actions in order to focus on its core business and improve its cost structure. Monster aims to continue and accelerate the redeployment of expenses into marketing and sales in Monster’s core markets (Europe and North America), while reducing the run rate of operating expenses in other geographies. However, Monster continues to face significant competition from social and professional networking websites such as LinkedIn, and Facebook as well as from traditional advertising companies such as Omnicom Group. Given the weak macro environment and bleak outlook for 2013, we downgrade our recommendation to Neutral from Outperform.”
Shares of Monster Worldwide opened at 5.06 on Friday. Monster Worldwide has a 52 week low of $5.01 and a 52 week high of $10.40. The stock’s 50-day moving average is currently $5.66. The company’s market cap is $562.3 million.
Several other analysts have also recently commented on the stock. Analysts at SunTrust downgraded shares of Monster Worldwide from a buy rating to a neutral rating in a research note to investors on Friday, February 15th. They now have a $6.50 price target on the stock, down previously from $9.00. Separately, analysts at UBS AG cut their price target on shares of Monster Worldwide from $7.25 to $7.00 in a research note to investors on Friday, February 8th. They now have a neutral rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Monster Worldwide from $8.00 to $7.00 in a research note to investors on Friday, February 8th. They now have an outperform rating on the stock.
Three analysts have rated the stock with a buy rating, one has assigned an overweight rating, and six have assigned a hold rating to the company’s stock. The stock currently has an average rating of overweight and a consensus target price of $7.29.
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