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This stock was last featured in April with great success. It has once again come on our radar! This is our pick for Thursday, June 20.
OpenTable (OPEN) provides restaurant reservation solutions primarily in the United States, Canada, Germany, Japan, Mexico, and the United Kingdom.
It offers solutions that form an online network connecting reservation-taking restaurants and people who dine at those restaurants. The company provides electronic reservation book (ERB) that combines proprietary software and computer hardware to deliver a solution, which computerizes restaurant host-stand operations. Its ERB streamlines and enhances various functions and processes for restaurants, including reservation management, table management, guest recognition, and email marketing.
In addition, the company offers on-site installation, training, and support services; data protection and hardware replacement services; software upgrades and updates; and Connect, a Web-based service that enables restaurants to accept online reservations from the OpenTable network, as well as through its mobile applications and restaurants' Websites.
Further, it designs, builds, and operates Websites and mobile applications, which enable diners to find, choose, and book tables at restaurants on the OpenTable network; and provides mobile versions of the OpenTable Websites for use on mobile devices, as well as free mobile applications.
Additionally, the company offers POP program that facilitates restaurants to provide diners bonus dining reward points for reservations at select times; and online gift card solutions for restaurants.
Shares have formed a bullish "cup & handle." Higher prices are expected for this stock.
We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares.
52-Week Trading Range: $33.53 - $72.18
Last Trade: $66.96
Stop Loss: $63.60
Target Price: $73.65
OPEN fell through stop loss. However, note that the entry price was most likely was not the entry point for most our readers as OPEN gapped down yesterday. In reality no one was probably got in at $66.96 that we had on the site. The position was closed at $63.00
