RetailMeNot Inc. (NASDAQ:SALE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “RetailMeNot, Inc. operates as a digital coupon marketplace that connects consumers with retailers and brands. It offers online deal information that enables users to purchase goods and services at a discount. The company’s portfolio of coupon and deal websites includes www.RetailMeNot.com, www.RetailMeNot.ca, www.VoucherCodes.co.uk, www.Deals.com, www.Actiepagina.nl, Bons-de-Reduction.com, www.ma-Reduc.com, www.Poulpeo.com and www.Deals2Buy.com. RetailMeNot, Inc. is headquartered in Austin, Texas. “
Several other research analysts have also weighed in on SALE. Jefferies Group reiterated a “buy” rating on shares of RetailMeNot in a report on Monday, June 13th. TheStreet raised RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Wedbush set a $10.00 price target on RetailMeNot and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Dougherty & Co assumed coverage on RetailMeNot in a research note on Thursday, August 25th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Morgan Stanley downgraded RetailMeNot from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $11.49 to $8.60 in a research note on Monday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.46.
Shares of RetailMeNot (NASDAQ:SALE) opened at 9.57 on Wednesday. The company has a market cap of $465.83 million, a P/E ratio of 54.69 and a beta of 0.78. RetailMeNot has a 52 week low of $5.52 and a 52 week high of $12.93. The company’s 50-day moving average price is $10.95 and its 200 day moving average price is $8.82.
RetailMeNot (NASDAQ:SALE) last posted its earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The firm had revenue of $64.20 million for the quarter, compared to analyst estimates of $62.89 million. RetailMeNot had a return on equity of 4.35% and a net margin of 3.49%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, equities analysts forecast that RetailMeNot will post $0.59 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of SALE. JPMorgan Chase & Co. boosted its position in RetailMeNot by 17.0% in the second quarter. JPMorgan Chase & Co. now owns 4,071,583 shares of the company’s stock worth $31,392,000 after buying an additional 592,163 shares during the last quarter. Vanguard Group Inc. boosted its position in RetailMeNot by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,730,422 shares of the company’s stock worth $21,051,000 after buying an additional 68,326 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in RetailMeNot by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,585,337 shares of the company’s stock worth $12,222,000 after buying an additional 210,304 shares during the last quarter. Renaissance Technologies LLC boosted its position in RetailMeNot by 26.0% in the first quarter. Renaissance Technologies LLC now owns 1,528,300 shares of the company’s stock worth $12,242,000 after buying an additional 315,000 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in RetailMeNot by 22.0% in the second quarter. BlackRock Fund Advisors now owns 998,443 shares of the company’s stock worth $7,698,000 after buying an additional 180,185 shares during the last quarter. Institutional investors and hedge funds own 78.25% of the company’s stock.
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.