RetailMeNot Inc. (SALE) Hits New 52-Week High at $11.49
Shares of RetailMeNot Inc. (NASDAQ:SALE) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.49 and last traded at $11.42, with a volume of 321,343 shares. The stock had previously closed at $11.18.
Several research firms have issued reports on SALE. Jefferies Group reiterated a “buy” rating and issued a $12.50 target price (up from $10.00) on shares of RetailMeNot in a research note on Thursday, August 4th. Wedbush set a $10.00 target price on shares of RetailMeNot and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded shares of RetailMeNot from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Saturday, August 6th. Credit Suisse Group AG reiterated a “hold” rating on shares of RetailMeNot in a research note on Wednesday, May 4th. Finally, TheStreet upgraded shares of RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $13.36.
The firm has a market cap of $557.34 million and a P/E ratio of 65.43. The company’s 50-day moving average is $8.68 and its 200-day moving average is $7.99.
RetailMeNot (NASDAQ:SALE) last announced its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The business had revenue of $64.20 million for the quarter, compared to the consensus estimate of $62.89 million. During the same quarter last year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that RetailMeNot Inc. will post $0.59 earnings per share for the current year.
Other hedge funds have made changes to their positions in the company. Matarin Capital Management LLC acquired a new stake in shares of RetailMeNot during the fourth quarter valued at about $6,064,000. Cornerstone Capital Management Holdings LLC. raised its stake in shares of RetailMeNot by 361.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 169,242 shares of the company’s stock valued at $1,678,000 after buying an additional 132,542 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of RetailMeNot by 19.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 675,423 shares of the company’s stock valued at $6,701,000 after buying an additional 111,634 shares during the period.
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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