RetailMeNot Price Target Raised to $44.00 at Wunderlich (SALE)
Stock analysts at Wunderlich boosted their price objective on shares of RetailMeNot (NASDAQ:SALE) from $38.00 to $44.00 in a report issued on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Wunderlich’s price objective would suggest a potential upside of 18.06% from the stock’s previous close.
The analysts wrote, “RetailMeNot, Inc. (SALE) reported results in its seasonally strongest Q4 period, well above us and the consensus: $78.5 million in revenues, up 55% Y/Y compared to $68.8 million, and up 35% Y/Y due to a strong promotional period by retailers and strong mobile activity. Q4 EBITDA and non-GAAP EPS also beat our estimates and the consensus and the company guided Q1 and FY14 revenues and EBITDA higher as well. It was a very clean quarter; the company is executing well on its core business and is on the cusp of penetrating a much larger adjacent market with mobile/in-store coupons. We are raising our price target from $38 to $44 based on our DCF model with higher estimates, which implies valuation multiples of 7x EV/S, 18x EV/EBITDA, and 34x P/E on FY15 estimates, which is in line with peers.”
A number of other firms have also recently commented on SALE. Analysts at RBC Capital raised their price target on shares of RetailMeNot from $33.00 to $42.00 in a research note to investors on Friday. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.51.
In other RetailMeNot news, major shareholder J.P. Morgan Investment Managem sold 559,718 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.42, for a total value of $19,265,493.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
RetailMeNot (NASDAQ:SALE) traded up 1.23% on Friday, hitting $37.73. The stock had a trading volume of 141,207 shares. RetailMeNot has a 52-week low of $25.51 and a 52-week high of $39.50. The stock’s 50-day moving average is $31.95 and its 200-day moving average is $31.83. The company’s market cap is $1.983 billion. RetailMeNot also saw a large growth in short interest during the month of 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 days-to-cover ratio is currently 4.0 days.
RetailMeNot (NASDAQ:SALE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that RetailMeNot will post $1.05 EPS for the current fiscal year.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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