Tuesday, September 11, 2012

Top Tech Movers (YELP, GB, GRPN, VRNG)

Yelp Inc(NYSE:YELP) stock gained 3.55% to $25.89 in the early hour. Analysts at Piper Jaffray started coverage on shares of YELP in a research report issued to clients and investors yesterday. The firm set a “neutral” rating on the stock.

Separately, analysts at JMP Securities initiated coverage on shares of Yelp on August 22. They set a “market perform” rating and a $19.00 price target on the stock and noted that the move was a valuation call.

Greatbatch Inc.(NYSE:GB) stock fell 0.83% to $23.89. Greatbatch shares have been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, the company’s weaknesses includes deteriorating net income and disappointing return on equity.

Groupon Inc(NASDAQ:GRPN) shares climbed 6.09% to $4.53 in the early hour. The company has named Brian Stevens as its new chief accounting officer, effective immediately. Prior to joining Groupon, Mr. Stevens spent 16 years with KPMG LLP, most recently as an audit partner from October 2007 through last month. Last month, Groupon said it swung to a second-quarter profit as it posted stronger revenue, especially in North America, while tamping down marketing costs.

Has GRPN Found The Bottom and Ready To Move Higher? Find Out Here

The 52 week trading range for the company is $4.00 - $31.14. The shares of the company plunged 80% in the last one year.

Vringo, Inc.(NYSEAMEX:VRNG) shares fell 1.17% to $3.38. The company nnounced it has filed a new patent application for social video technology. The provisional patent application provides a new format for video group messaging.

Additionally, on September 4, Maxim Group reiterated its $6.50 per share 12-month price target on Vringo.  The analyst's target was driven by two factors, Vringo's recent acquisition of Nokia's  patent portfolio, and Apple's recent $1 .03 billion patent win over Samsung.

The company is a development-stage company. The Company is engaged in developing software for mobile phones.

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