RetailMeNot Inc. (SALE) Downgraded by Zacks Investment Research to Sell
RetailMeNot Inc. (NASDAQ:SALE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “RetailMeNot, Inc. operates as a digital coupon marketplace that connects consumers with retailers and brands. It offers online deal information that enables users to purchase goods and services at a discount. The company’s portfolio of coupon and deal websites includes www.RetailMeNot.com, www.RetailMeNot.ca, www.VoucherCodes.co.uk, www.Deals.com, www.Actiepagina.nl, Bons-de-Reduction.com, www.ma-Reduc.com, www.Poulpeo.com and www.Deals2Buy.com. RetailMeNot, Inc. is headquartered in Austin, Texas. “
A number of other research analysts have also recently commented on SALE. Jefferies Group reaffirmed a “buy” rating on shares of RetailMeNot in a research note on Monday, July 11th. TheStreet raised RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Wedbush set a $10.00 target price on RetailMeNot and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Boenning Scattergood began coverage on RetailMeNot in a research note on Thursday, September 29th. They set a “neutral” rating on the stock. Finally, Loop Capital began coverage on RetailMeNot in a research note on Tuesday, September 13th. They set a “hold” rating and a $11.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. RetailMeNot presently has an average rating of “Hold” and a consensus target price of $12.46.
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RetailMeNot (NASDAQ:SALE) opened at 9.29 on Wednesday. The company has a market cap of $452.20 million, a price-to-earnings ratio of 53.09 and a beta of 0.78. The company’s 50-day moving average price is $10.72 and its 200-day moving average price is $8.87. RetailMeNot has a 52-week low of $5.52 and a 52-week high of $12.93.
RetailMeNot (NASDAQ:SALE) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. RetailMeNot had a return on equity of 4.35% and a net margin of 3.49%. The company had revenue of $64.20 million for the quarter, compared to analysts’ expectations of $62.89 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts expect that RetailMeNot will post $0.59 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Nine Chapters Capital Management LLC bought a new stake in RetailMeNot during the second quarter worth $115,000. Guggenheim Capital LLC raised its stake in RetailMeNot by 4.3% in the second quarter. Guggenheim Capital LLC now owns 15,235 shares of the company’s stock worth $118,000 after buying an additional 630 shares in the last quarter. Boothbay Fund Management LLC raised its stake in RetailMeNot by 2.2% in the first quarter. Boothbay Fund Management LLC now owns 15,912 shares of the company’s stock worth $127,000 after buying an additional 343 shares in the last quarter. BlackRock Advisors LLC raised its stake in RetailMeNot by 14.9% in the second quarter. BlackRock Advisors LLC now owns 18,606 shares of the company’s stock worth $143,000 after buying an additional 2,416 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in RetailMeNot by 38.5% in the second quarter. Alliancebernstein L.P. now owns 20,160 shares of the company’s stock worth $155,000 after buying an additional 5,600 shares in the last quarter. Institutional investors own 78.25% of the company’s stock.
RetailMeNot Inc operates a digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The Company’s marketplace features over 800,000 digital offers each month. The Company’s Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital offers from retailers and brands.
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