Why Open Table (OPEN) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Open Table Inc. (OPEN) are higher 5.17% to $71.80 on Friday due to an increase in revenue and income for the 2014 first quarter.

Revenue for the quarter increased 18% to $53.8 million from $45.5 million for the 2013 first quarter.

The online restaurant reservation making service reported its first quarter 2014 non-GAAP consolidated net income was $11.0 million, or 45 cents per diluted share, compared with $10.7 million, or 45 cents per diluted share from the year ago quarter.

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The company reported a consolidated net loss for the quarter of -$3.6 million, or -16 cents per diluted share. Last year Open Table reported its consolidated net income was $7.1 million, or 30 cents per diluted share.

TheStreet Ratings team rates OPENTABLE INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate OPENTABLE INC (OPEN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

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