RetailMeNot Price Target Raised to $48.00 at Wunderlich (SALE)
Research analysts at Wunderlich raised their target price on shares of RetailMeNot (NASDAQ:SALE) from $44.00 to $48.00 in a report released on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Wunderlich’s price target indicates a potential upside of 66.15% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of RetailMeNot from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 11th. They now have a $41.60 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.09.
Shares of RetailMeNot (NASDAQ:SALE) traded up 0.35% during mid-day trading on Tuesday, hitting $28.89. The stock had a trading volume of 1,196,584 shares. RetailMeNot has a one year low of $25.51 and a one year high of $48.73. The stock’s 50-day moving average is $32.13 and its 200-day moving average is $33.53. The company has a market cap of $1.552 billion and a P/E ratio of 93.47. RetailMeNot also was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 1,820,847 shares, an increase of 52.5% from the April 15th total of 1,193,739 shares. Approximately 6.7% of the company’s stock are sold short. Based on an average daily trading volume, of 700,849 shares, the short-interest ratio is currently 2.6 days.
In other RetailMeNot news, SVP Jagjit Bath unloaded 2,500 shares of RetailMeNot stock on the open market in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $33.54, for a total transaction of $83,850.00. Following the transaction, the senior vice president now directly owns 30,000 shares in the company, valued at approximately $1,006,200. The transaction was disclosed in a filing with the SEC, which is available at this link.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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