UPDATE: Barrington Research Downgrades Active Network to Market Perform on Guidance Reduction
Barrington Research lowered its rating on Active Network (NYSE: ACTV) from Outperform to Market Perform.
Barrington Research noted, "We are lowering our investment rating to MARKET PERFORM from OUTPERFORM because we think it could take a while for investors to regain confidence after Active reduced 2012 guidance for the second consecutive quarter and set 2013 guidance below Street consensus. While three of its technology-revenue businesses are growing 10-15%, the Outdoor segment is now growing in the single digits and marketing revenue continues to face headwinds. We expect the stock to decline by at least 20% today."
Active Network closed at $9.29 on Thursday.
Latest Ratings for ACTV
|Nov 2013||Stifel Nicolaus||Terminates|
|May 2013||RBC Capital||Downgrades||Outperform||Sector Perform|
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