Wedbush Analyst Reiterates Neutral Rating on RetailMeNot Inc (SALE)
Wedbush analyst, Aaron Turner , reiterates his Neutral rating on RetailMeNot Inc. (NASDAQ:SALE), with a price target of $10.00, following the company’s 2Q earnings report.
The analyst notes that the company reported consolidated revenue of $64.2 million, which beat consensus revenue estimates of $63 million. These numbers remained within guidance range of $58.5-$64.5 million.
Turner comments, “We believe SALE remains a top destination for discount-seeking consumers and is well-positioned to capitalize on the growth of coupon digitization. However, we expect continued declines in desktop traffic coupled with mobile monetization headwinds to pressure top line growth. We remain on the sidelines pending signs of renewed and sustainable growth in the core business and corresponding earnings growth.”
According to TipRanks, Turner is ranked #1,271 of 4,071 analysts. He maintains a success rate of 100% and realizes an average profit of 28.5%.