Quotient Technology Inc. (NYSE:QUOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $13.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 20.04% from the company’s current price.
According to Zacks, “Quotient Technology Inc. provides digital promotion and media platform which connects brands, retailers and consumers. It offers digital coupons, including coupon codes and media and advertising through its platform which includes Web, mobile and social channels as well as consumer packaged goods companies, retailers and publishers. Quotient Technology Inc., formerly known as Coupons.com, is headquartered in Mountain View, California. “
A number of other equities analysts also recently issued reports on the company. Loop Capital initiated coverage on Quotient Technology in a report on Wednesday, August 10th. They issued a “buy” rating and a $16.00 price objective for the company. Boenning Scattergood started coverage on Quotient Technology in a report on Thursday, September 29th. They issued an “outperform” rating for the company. Wedbush increased their target price on Quotient Technology from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Bank of America Corp. set a $15.00 target price on Quotient Technology and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, RBC Capital Markets reissued a “hold” rating on shares of Quotient Technology in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.78.
Shares of Quotient Technology (NYSE:QUOT) opened at 10.83 on Thursday. The company’s market capitalization is $909.05 million. Quotient Technology has a 52 week low of $5.00 and a 52 week high of $14.36. The company has a 50-day moving average price of $12.49 and a 200-day moving average price of $12.42.
In other Quotient Technology news, major shareholder John Howard Burbank III sold 500,000 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $13.24, for a total value of $6,620,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dawn G. Lepore sold 4,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $14.02, for a total value of $56,080.00. Following the completion of the transaction, the director now directly owns 129,197 shares in the company, valued at approximately $1,811,341.94. The disclosure for this sale can be found here. Corporate insiders own 11.99% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Columbia Wanger Asset Management LLC increased its position in Quotient Technology by 11.9% in the second quarter. Columbia Wanger Asset Management LLC now owns 4,544,706 shares of the company’s stock worth $60,945,000 after buying an additional 483,905 shares in the last quarter. BlackRock Fund Advisors increased its position in Quotient Technology by 4.5% in the second quarter. BlackRock Fund Advisors now owns 1,515,127 shares of the company’s stock valued at $20,318,000 after buying an additional 65,291 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Quotient Technology by 31.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,437,660 shares of the company’s stock valued at $19,279,000 after buying an additional 344,037 shares during the period. State Street Corp increased its position in Quotient Technology by 6.6% in the second quarter. State Street Corp now owns 1,068,348 shares of the company’s stock valued at $14,325,000 after buying an additional 65,787 shares during the period. Finally, Elk Creek Partners LLC bought a new position in Quotient Technology during the second quarter valued at approximately $3,188,000. 74.62% of the stock is currently owned by institutional investors.
About Quotient Technology
Quotient Technology Inc, formerly Coupons.com Incorporated, is a provider of digital promotions and media solutions. The Company connects consumer packaged goods (CPG) brands and retailers with shoppers by offering digital promotions and media to shoppers through mobile, Web and social channels. The Company’s platform is used by brands, as well as retailers in the grocery, drug, dollar, club and mass merchandise channels to engage shoppers at the critical moments when they are choosing what products to buy and where to shop.