Zacks Investment Research Downgrades Rocket Fuel Inc. (FUEL) to Hold
Rocket Fuel Inc. (NASDAQ:FUEL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Rocket Fuel Inc. is a leading provider of artificial intelligence advertising solutions for digital marketers. They deliver a leading programmatic media-buying platform at Big Data scale that harnesses the power of artificial intelligence to improve marketing ROI in digital media across web, mobile, video, and social channels. Rocket Fuel powers digital advertising and marketing programs globally for customers in North America, Europe, and Japan. Customers trust Rocket Fuel’s Advertising That Learns platform to achieve brand and direct-response objectives in diverse industries from luxury cars to groceries to retail. “
Other equities analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $4.00 target price on shares of Rocket Fuel in a report on Monday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Rocket Fuel in a research report on Monday, June 27th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $7.00 price objective on shares of Rocket Fuel in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.21.
Shares of Rocket Fuel (NASDAQ:FUEL) opened at 2.55 on Wednesday. Rocket Fuel has a 12 month low of $2.09 and a 12 month high of $5.60. The stock has a 50 day moving average of $2.85 and a 200-day moving average of $2.68. The firm’s market capitalization is $113.35 million.
Rocket Fuel (NASDAQ:FUEL) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. The business had revenue of $117 million for the quarter, compared to analysts’ expectations of $111.48 million. Rocket Fuel had a negative net margin of 40.69% and a negative return on equity of 38.96%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. On average, equities research analysts anticipate that Rocket Fuel will post ($0.60) EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Rocket Fuel by 5.0% in the second quarter. Vanguard Group Inc. now owns 936,519 shares of the company’s stock valued at $2,079,000 after buying an additional 44,358 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its stake in Rocket Fuel by 22.4% in the second quarter. Prescott Group Capital Management L.L.C. now owns 743,546 shares of the company’s stock valued at $1,651,000 after buying an additional 135,911 shares in the last quarter. State Street Corp raised its stake in Rocket Fuel by 54.1% in the first quarter. State Street Corp now owns 405,648 shares of the company’s stock valued at $1,278,000 after buying an additional 142,371 shares in the last quarter. Spark Investment Management LLC raised its stake in Rocket Fuel by 10.6% in the second quarter. Spark Investment Management LLC now owns 402,100 shares of the company’s stock valued at $892,000 after buying an additional 38,500 shares in the last quarter. Finally, Barclays PLC raised its stake in Rocket Fuel by 0.4% in the first quarter. Barclays PLC now owns 195,654 shares of the company’s stock valued at $587,000 after buying an additional 828 shares in the last quarter. Institutional investors own 29.28% of the company’s stock.
About Rocket Fuel
Rocket Fuel Inc is a technology company, which offers a Programmatic Marketing Platform that is designed for helping marketers and their agencies to connect with consumers through digital media. The Company’s service offerings are organized around platforms, including Data Management Platform (DMP) and Demand Side Platform (DSP), which are used by customers themselves or integrating with other customer relationship management or marketing platforms, and together in various permutations as its Programmatic Marketing Platform.
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