Morgan Stanley Maintains Qunar Cayman Islands Ltd to Equal-weight with Price Target $33.00

Brokerage firm Morgan Stanley Maintains its rating on Qunar Cayman Islands Ltd(NASDAQ:QUNR). In a research note issued to the investors, the brokerage major Lowers the price-target to $33.00 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Jun 20, 2016.

In a different note, On May 4, 2016, CLSA said it Downgrades its rating on Qunar Cayman Islands Ltd. The shares have been rated ‘Sell’ by the firm. On Apr 26, 2016, Morgan Stanley said it Downgrades its rating on Qunar Cayman Islands Ltd. In the research note, the firm Lowers the price-target to $54.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Qunar Cayman Islands Ltd (QUNR) made into the market gainers list on Fridays trading session with the shares advancing 3.00% or 0.88 points. Due to strong positive momentum, the stock ended at $30.17, which is also near the day’s high of $30.33. The stock began the session at $29 and the volume stood at 8,93,124 shares. The 52-week high of the shares is $55.93 and the 52 week low is $25.75. The company has a current market capitalization of $4,368 M and it has 14,47,82,390 shares in outstanding.

Qunar Cayman Islands Ltd(QUNR) last announced its earnings results on Jun 15, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $154.02M. Analysts had an estimated revenue of $1.13B. Earnings per share were $-0.29. Analysts had estimated an EPS of $-0.38.

Qunar Cayman Islands Limited (Qunar) is engaged in offering mobile and online commerce platform for travel in China. The Company offers a range of travel products including flights hotels vacations packages attraction tickets and other travel related offerings. The Company has developed Qunar Travel its mobile application which enables its users to search for and purchase travel products. The Company’s Software as a service (SaaS) system provides an online presence for over 240000 travel service providers. Its search engine provides real-time travel products information directly sourced from travel service providers and through its SaaS platform. The Company’s main lines of business include flight tickets hotels vacation packages and attraction tickets. The Company also offers display advertising train tickets car services smart lodging and other services.

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