Oppenheimer Maintains Outperform Rating on Shares of Monster Worldwide (MWW)

Oppenheimer maintains an Outperform rating and a $27 price target on improved revenue of Monster Worldwide (MWW) shares .

Oppenheimer writes, "Unlike 4Q10 results, 1Q11 results were slightly ahead of our/company expectations and MWW affirmed its FY11 revenue/bookings growth expectation of 20-25% with at least 50% incremental margins, and EPS guidance of $0.36-0.48 (vs. our/Street $0.41/$0.45 estimate). Bookings in 1Q11 rose 24% Y/Y and were slightly ahead of the high end of guidance (vs. our 21% growth estimate). Our estimate for FY11 increases modestly (and is less back-end weighted) while our FY12 estimate remains unchanged. We continue to believe MWW is well positioned to benefit from a cyclical employment recovery, new products, strong operating leverage and the HotJobs acquisition."

Shares of Monster Worldwide (MWW) closed at 17.79 yesterday.