Zacks Investment Research downgraded shares of Monster Worldwide, Inc (MWW) from OUTPERFORM to NEUTRAL on February 22, 2013, with a target price of $5.50.
Monster reported in line earnings for the fourth quarter of 2012 even though revenues were short of expectations. Monster had earlier announced a series of restructuring actions in order to focus on its core business and improve its cost structure. Monster aims to continue and accelerate the redeployment of expenses into marketing and sales in Monster's core markets (Europe and North America), while reducing the run rate of operating expenses in other geographies. However, Monster continues to face significant competition from social and professional networking websites such as LinkedIn, and Facebook as well as from traditional advertising companies such as Omnicom Group. Given the weak macro environment and bleak outlook for 2013, we downgrade our recommendation to Neutral from Outperform.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Monster Worldwide, Inc (MWW),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment