RetailMeNot PT Raised to $42.00 (SALE)
Equities researchers at RBC Capital raised their price objective on shares of RetailMeNot (NASDAQ:SALE) from $33.00 to $42.00 in a research report issued on Friday, Stock Ratings Network reports. RBC Capital’s target price would suggest a potential upside of 8.96% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of RetailMeNot from $40.00 to $47.00 in a research note to investors on Friday. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of RetailMeNot from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 27th. They now have a $40.00 price target on the stock, up previously from $32.00. Finally, analysts at Zacks downgraded shares of RetailMeNot from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 7th. They now have a $32.60 price target on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $41.23.
In other RetailMeNot news, major shareholder J.P. Morgan Investment Managem unloaded 732,018 shares of the stock on the open market in a transaction dated Thursday, February 6th. The stock was sold at an average price of $36.80, for a total transaction of $26,938,262.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of RetailMeNot (NASDAQ:SALE) traded up 3.42% on Friday, hitting $38.545. 2,586,917 shares of the company’s stock traded hands. RetailMeNot has a 52 week low of $25.51 and a 52 week high of $39.50. The stock has a 50-day moving average of $31.95 and a 200-day moving average of $31.83. The company’s market cap is $2.026 billion. RetailMeNot also was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,492,233 shares, a growth of 21.4% from the December 31st total of 1,958,805 shares. Approximately 14.1% of the shares of the company are sold short. Based on an average daily volume of 629,616 shares, the short-interest ratio is currently 4.0 days.
RetailMeNot (NASDAQ:SALE) last released its earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.03. The company had revenue of $78.50 million for the quarter, compared to the consensus estimate of $68.71 million. The company’s quarterly revenue was up 54.5% on a year-over-year basis. On average, analysts predict that RetailMeNot will post $1.05 earnings per share for the current fiscal year.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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