Constant Contact Sees Large Decline in Short Interest (CTCT)
Shares of Constant Contact (NASDAQ:CTCT) were the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,373,321 shares, a decline of 22.4% from the March 31st total of 1,770,603 shares, American Banking News.com reports. Based on an average trading volume of 1,030,809 shares, the days-to-cover ratio is currently 1.3 days. Currently, 4.5% of the shares of the company are short sold.
CTCT has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of Constant Contact from a “buy” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at Zacks upgraded shares of Constant Contact from a “neutral” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $28.90 price target on the stock. Finally, analysts at Robert W. Baird upgraded shares of Constant Contact from a “neutral” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $33.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.35.
Constant Contact (NASDAQ:CTCT) opened at 27.47 on Thursday. Constant Contact has a one year low of $14.19 and a one year high of $32.91. The stock has a 50-day moving average of $25.64 and a 200-day moving average of $27.35. The company has a market cap of $859.5 million and a P/E ratio of 103.97.
Constant Contact (NASDAQ:CTCT) last announced its earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.03. The company had revenue of $78.90 million for the quarter, compared to the consensus estimate of $78.60 million. During the same quarter last year, the company posted $0.05 earnings per share. Constant Contact’s revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that Constant Contact will post $1.02 earnings per share for the current fiscal year.
Constant Contact, Inc (NASDAQ:CTCT) is a provider of on-demand engagement marketing tools that are designed for small organizations, including small businesses, associations and non-profits.
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