Analysts Set $10.60 Target Price for Renren Inc (RENN)

Shares of Renren Inc (NYSE:RENN) have been assigned a consensus broker rating score of 4.00 (Sell) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell rating.

Analysts have set a twelve-month consensus target price of $10.60 for the company, according to Zacks. Zacks has also given Renren an industry rank of 102 out of 257 based on the ratings given to related companies.

Separately, ValuEngine cut shares of Renren from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th.

Shares of NYSE:RENN traded up $0.01 during midday trading on Friday, hitting $1.60. The stock had a trading volume of 1,100 shares, compared to its average volume of 125,108. Renren has a 12 month low of $1.32 and a 12 month high of $18.70. The company has a current ratio of 1.55, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $111.89 million, a PE ratio of -1.00 and a beta of 0.48.

Renren (NYSE:RENN) last released its earnings results on Tuesday, September 11th. The technology company reported ($0.06) earnings per share for the quarter. Renren had a net margin of 10.94% and a negative return on equity of 19.14%. The firm had revenue of $135.04 million during the quarter.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Renren by 192.8% in the first quarter. Dimensional Fund Advisors LP now owns 61,668 shares of the technology company’s stock valued at $518,000 after purchasing an additional 40,605 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Renren in the second quarter valued at about $397,000. Cubist Systematic Strategies LLC raised its stake in Renren by 189.4% in the second quarter. Cubist Systematic Strategies LLC now owns 50,867 shares of the technology company’s stock valued at $126,000 after purchasing an additional 33,292 shares in the last quarter. Global X Management Co LLC raised its stake in Renren by 806.5% in the second quarter. Global X Management Co LLC now owns 243,320 shares of the technology company’s stock valued at $601,000 after purchasing an additional 216,478 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Renren during the third quarter worth about $316,000. 3.28% of the stock is owned by institutional investors.

Renren Company Profile

Renren Inc operates a social networking Internet platform in the People's Republic of China. It operates through two segments, Renren and Auto Group. The company operates Renren.com and Renren Mobile App that enable users to communicate and stay connected with friends, classmates, family members, and co-workers; and woxiu.com, a PC-based social video platform for users to stream their performances live to viewers.

See Also: What is a capital gain?

Get a free copy of the Zacks research report on Renren (RENN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Renren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renren and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit