Zacks Investment Research lowered shares of RetailMeNot Inc. (NASDAQ:SALE) from a hold rating to a sell rating in a report published on Wednesday morning.
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. “
A number of other research analysts also recently commented on SALE. Jefferies Group reissued a buy rating on shares of RetailMeNot in a report on Monday, July 11th. TheStreet raised RetailMeNot from a sell rating to a hold rating in a report on Monday, July 18th. Wedbush set a $10.00 price target on RetailMeNot and gave the company a neutral rating in a report on Wednesday, August 3rd. Dougherty & Co started coverage on RetailMeNot in a report on Thursday, August 25th. They issued a buy rating and a $15.00 price target for the company. Finally, Morgan Stanley downgraded RetailMeNot from an equal weight rating to an underweight rating and reduced their price target for the company from $11.49 to $8.60 in a report on Monday, September 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $12.46.
Shares of RetailMeNot (NASDAQ:SALE) opened at 9.80 on Wednesday. RetailMeNot has a 1-year low of $5.52 and a 1-year high of $12.93. The company has a 50 day moving average price of $10.50 and a 200-day moving average price of $8.92. The stock has a market capitalization of $477.02 million, a P/E ratio of 56.00 and a beta of 0.78.
RetailMeNot (NASDAQ:SALE) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm earned $64.20 million during the quarter, compared to the consensus estimate of $62.89 million. RetailMeNot had a return on equity of 4.35% and a net margin of 3.49%. RetailMeNot’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, equities research analysts forecast that RetailMeNot will post $0.59 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SALE. Nine Chapters Capital Management LLC bought a new stake in shares of RetailMeNot during the second quarter worth $115,000. Guggenheim Capital LLC boosted its stake in shares of RetailMeNot by 4.3% in the second quarter. Guggenheim Capital LLC now owns 15,235 shares of the company’s stock worth $118,000 after buying an additional 630 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in shares of RetailMeNot by 2.2% in the first quarter. Boothbay Fund Management LLC now owns 15,912 shares of the company’s stock worth $127,000 after buying an additional 343 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of RetailMeNot by 14.9% in the second quarter. BlackRock Advisors LLC now owns 18,606 shares of the company’s stock worth $143,000 after buying an additional 2,416 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of RetailMeNot by 38.5% in the second quarter. Alliancebernstein L.P. now owns 20,160 shares of the company’s stock worth $155,000 after buying an additional 5,600 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors.
RetailMeNot Company Profile
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.