Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Piper Jaffray Cuts Zumiez to Market Perform

Standard & Poor's Equity Research

Piper Jaffray downgraded Zumiez (ZUMZ) to market perform from outperform, citing the stock's valuation.

Analyst Jeffrey Klinefelter says that at $34, Zumiez is trading at 57 times his 60 cents fiscal year 2007 estimate (ending Jan) and 42 times his 82 cents fiscal year 2008 earnings per share (EPS) estimates. He thinks the stock is fairly valued based on his estimate of about 40% net income growth in fiscal year 2008. He notes that upside to his first quarter and second quarter estimate is limited. He thinks valuation will be restrained from moving higher until we approach the third and fourth quarter, when visibility on back-to-school and the holiday should be decidedly improved, providing the greater likelihood of EPS outperformance.

blog comments powered by Disqus