Rentrak Corp. Sets New 52-Week High Following Analyst Upgrade (RENT)
Rentrak Corp. (NASDAQ:RENT)’s share price hit a new 52-week high during trading on Tuesday after BWS Financial raised their price target on the stock to $85.00, AR Network reports. The company traded as high as $66.50 and last traded at $66.34, with a volume of 58,237 shares. The stock had previously closed at $64.16.
A number of other firms have also recently commented on RENT. Analysts at Brean Capital raised their price target on shares of Rentrak Corp. to $74.00 in a research note on Wednesday, February 5th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Rentrak Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, January 27th. They now have a $57.40 price target on the stock. Finally, analysts at Albert Fried & Company downgraded shares of Rentrak Corp. to an “underweight” rating in a research note on Monday, January 20th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Rentrak Corp. presently has an average rating of “Buy” and a consensus target price of $63.35.
The stock has a 50-day moving average of $50.02 and a 200-day moving average of $36.63. The company’s market cap is $802.1 million.
Rentrak Corp. (NASDAQ:RENT) last released its earnings data on Thursday, February 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.18. The company had revenue of $31.60 million for the quarter, compared to the consensus estimate of $30.39 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts expect that Rentrak Corp. will post $-0.14 EPS for the current fiscal year.
Rentrak Corporation is a global digital media measurement, research and distribution company, serving the entertainment, television and advertising industries.
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