RetailMeNot Inc. (SALE) Hits New 52-Week High at $11.49
Shares of RetailMeNot Inc. (NASDAQ:SALE) reached a new 52-week high on Friday . The company traded as high as $11.49 and last traded at $11.42, with a volume of 321,343 shares traded. The stock had previously closed at $11.18.
Several brokerages have commented on SALE. TheStreet upgraded shares of RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Jefferies Group reiterated a “buy” rating on shares of RetailMeNot in a research note on Monday, June 13th. Zacks Investment Research lowered shares of RetailMeNot from a “buy” rating to a “hold” rating in a research note on Saturday, May 7th. Credit Suisse Group AG reiterated a “hold” rating on shares of RetailMeNot in a research note on Wednesday, May 4th. Finally, Wedbush set a $10.00 price target on shares of RetailMeNot and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.36.
The stock has a 50-day moving average price of $8.68 and a 200 day moving average price of $7.99. The firm has a market cap of $557.34 million and a price-to-earnings ratio of 65.43.
RetailMeNot (NASDAQ:SALE) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The firm earned $64.20 million during the quarter, compared to analyst estimates of $62.89 million. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities research analysts predict that RetailMeNot Inc. will post $0.59 EPS for the current year.
A number of institutional investors recently added to or reduced their stakes in SALE. Dimensional Fund Advisors LP raised its position in 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. Cornerstone Capital Management Holdings LLC. raised its position in 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, Matarin Capital Management LLC bought a new position in RetailMeNot during the fourth quarter valued at approximately $6,064,000.
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.