RetailMeNot Inc. (SALE) Shares Up 2.6%
RetailMeNot Inc. (NASDAQ:SALE) shares shot up 2.6% during trading on Wednesday . The company traded as high as $12.07 and last traded at $12.04, with a volume of 269,762 shares changing hands. The stock had previously closed at $11.73.
A number of research firms have recently commented on SALE. Jefferies Group reiterated a “buy” rating and issued a $12.50 price objective (up previously from $10.00) on shares of RetailMeNot in a report on Thursday, August 4th. Zacks Investment Research upgraded RetailMeNot from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research note on Saturday, August 6th. Wedbush set a $10.00 price target on RetailMeNot and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG restated a “hold” rating on shares of RetailMeNot in a research note on Wednesday, May 4th. Finally, TheStreet upgraded RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Six investment 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.36.
The company has a market capitalization of $590.93 million and a P/E ratio of 69.37. The firm has a 50 day moving average price of $8.93 and a 200-day moving average price of $8.01.
RetailMeNot (NASDAQ:SALE) last released its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping 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. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. Equities analysts predict that RetailMeNot Inc. will post $0.59 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. raised its position 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 in the last quarter. Matarin Capital Management LLC purchased a new position in shares of RetailMeNot during the fourth quarter valued at approximately $6,064,000. Dimensional Fund Advisors LP raised its position 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of RetailMeNot by 276.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 231,150 shares of the company’s stock valued at $2,293,000 after buying an additional 169,750 shares in the last quarter.
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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