Bankrate Price Target Increased to $20.00 by Analysts at Canaccord Genuity (RATE)
Stock analysts at Canaccord Genuity lifted their target price on shares of Bankrate (NYSE:RATE) from $17.00 to $20.00 in a report issued on Friday, StockRatingsNetwork reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 14.94% from the company’s current price.
Separately, analysts at Bank of America reiterated a “buy” rating on shares of Bankrate in a research note on Friday. They now have a $22.00 price target on the stock, up previously from $20.00. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.67.
Bankrate (NYSE:RATE) traded up 13.51% during mid-day trading on Friday, hitting $19.75. The stock had a trading volume of 1,390,219 shares. Bankrate has a 52 week low of $10.25 and a 52 week high of $23.14. The stock’s 50-day moving average is $16.71 and its 200-day moving average is $18.24. The company’s market cap is $2.004 billion.
Bankrate (NYSE:RATE) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.02. The company had revenue of $122.30 million for the quarter, compared to the consensus estimate of $120.13 million. During the same quarter last year, the company posted $0.06 earnings per share. Bankrate’s revenue was up 31.2% compared to the same quarter last year. On average, analysts predict that Bankrate will post $0.71 earnings per share for the current fiscal year.
Bankrate, Inc (NYSE:RATE) is a publisher, aggregator and distributor of personal finance content on the Internet.
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