NEW YORK, Sept 20 (Reuters) - Shares of Monster Worldwide , parent of online job search site Monster.com, appear to be a good bet for long-term investors, Barron's said in its Sept. 21 edition.
Monster is in a strong position after making several key acquisitions internationally, even as it continues to trim costs. The online job market is also showing signs of life, despite the high rate of unemployment, said Barron's.
Monster's stock price has almost tripled since March, making it a bit 'iffy in the short term,' said the financial weekly. But a pullback of 10 percent or more could be a buying opportunity for long-term investors.
Among online job sites, Monster is second to Career-Building in holding U.S. market share, but it has recently reorganized its sales force and is about to roll out an employer search tool that could boost its business, according to Barron's report.
Also helping Monster is its 'solid balance sheet, with $236 million, or nearly $2 a share, in cash and almost no long-term debt,' said Barron's.
David Katz, chief investment officer of Matrix Asset Advisors, told Barron's he has been buying the stock. 'We're very confident that on a 12-month basis, the stock will be in the mid-20s,' he said.
The stock closed on Friday 2 percent higher at $17.78, off a 52-week low of $5.99 set on March 9, according to Reuters data.
(Reporting by Lilla Zuill; Editing by Steve Orlofsky) Keywords: MONSTER/ (lilla.zuill@thomsonreuters.com;+1 646 223 6281) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Monster is in a strong position after making several key acquisitions internationally, even as it continues to trim costs. The online job market is also showing signs of life, despite the high rate of unemployment, said Barron's.
Monster's stock price has almost tripled since March, making it a bit 'iffy in the short term,' said the financial weekly. But a pullback of 10 percent or more could be a buying opportunity for long-term investors.
Among online job sites, Monster is second to Career-Building in holding U.S. market share, but it has recently reorganized its sales force and is about to roll out an employer search tool that could boost its business, according to Barron's report.
Also helping Monster is its 'solid balance sheet, with $236 million, or nearly $2 a share, in cash and almost no long-term debt,' said Barron's.
David Katz, chief investment officer of Matrix Asset Advisors, told Barron's he has been buying the stock. 'We're very confident that on a 12-month basis, the stock will be in the mid-20s,' he said.
The stock closed on Friday 2 percent higher at $17.78, off a 52-week low of $5.99 set on March 9, according to Reuters data.
(Reporting by Lilla Zuill; Editing by Steve Orlofsky) Keywords: MONSTER/ (lilla.zuill@thomsonreuters.com;+1 646 223 6281) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
