E-House China PT Raised to $8.00 (EJ)

Stock analysts at Oppenheimer lifted their target price on shares of E-House China (NYSE:EJ) from $6.00 to $8.00 in a report issued on Monday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 31.80% from the company’s current price.

The analysts wrote, “2Q13 revenue strongly beat our estimate/consensus by 22%, and margin expansion continues as a result of EJ’s cost realignment and a more scaled online business. EPS of $0.11 outperformed our $0.06 estimate. Full-year revenue guidance went up another $30M after a $50M raise last quarter, representing 36% y/y growth. Upon the successful launch of e-commerce platform 3.0, EJ is well positioned to catch the next wave of growth in the internet space; meanwhile a stable and favorable policy environment (the best year since 2009) also solidly supports the company’s traditional offline agency business. We forecast its top-line CAGR will accelerate to high-20s from 15% in the past three years. Raising our estimates and price target to $8 from $6.”

EJ has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of E-House China from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, July 29th. They now have a $4.90 price target on the stock. Analysts at TheStreet upgraded shares of E-House China from a “sell” rating to a “hold” rating in a research note to investors on Thursday, May 30th.

One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.86.

Shares of E-House China (NYSE:EJ) traded up 11.20% on Monday, hitting $6.75. 1,518,232 shares of the company’s stock traded hands. E-House China has a 52 week low of $2.95 and a 52 week high of $7.55. The stock has a 50-day moving average of $4.73 and a 200-day moving average of $4.65. The company’s market cap is $897.9 million.

E-House China (NYSE:EJ) last posted its quarterly earnings results on Friday, August 16th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.05. The company had revenue of $163.40 million for the quarter, compared to the consensus estimate of $135.77 million. During the same quarter last year, the company posted $0.06 earnings per share. E-House China’s revenue was up 43.2% compared to the same quarter last year. Analysts expect that E-House China will post $0.39 EPS for the current fiscal year.

E-House (NYSE:EJ) Holdings Limited (E-House) is a real estate services company in People’s Republic of China.