UPDATE: Oppenheimer lowers Jiayuan.com's PT
According to a research report published this morning, Oppenheimer has lowered Jiayuan.com's (NASDAQ: DATE) PT from $10 to $7.50.
Oppenheimer said, "DATE's 1Q12 sales of $13.9M were below our and consensus estimates ($14.4M/$14.5M), but non-GAAP EPADS of $0.04 were roughly in line with our and consensus estimates ($0.03/$0.04). While margins continued to contract y/y, they were better than expected, mainly due to better expense controls. Management's 2Q12 revenue guidance was also below our prior and consensus estimates. We're lowering our estimates to reflect lower growth and revised margin assumptions."
Oppenheimer maintains its Outperform rating on Jiayuan.com, which closed yesterday at $3.84.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.