Wunderlich Securities Believes Promising Start To Holiday Shopping Season Bodes Well For RetailMeNot
In a report published Tuesday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating and $32.00 price target on RetailMeNot Inc (NASDAQ: SALE).
In the report, Wunderlich Securities noted, “Multiple industry reports have indicated that online sales grew 20-30% Y/Y for the Thanksgiving and Black Friday weekend, with mobile devices accounting for around one-fourth of total transactions, which should translate to a strong start to RetailMeNot, Inc.'s (SALE) strongest four week period of the year. The growth in online and mobile sales is contrasted by a slight decline in in-store retail sales, which is still a small portion of revenues. While we don't expect mobile monetization to improve dramatically above 20% of the desktop monetization in Q4, we believe early industry data has increased confidence for RetailMeNot to report mobile traffic and revenues in-line with our estimate, up 118% and 134% Y/Y, and possibly even better desktop traffic than our estimate of flat Y/Y.”
RetailMeNot closed on Monday at $14.34.
Latest Ratings for SALE
Nov 2014 | Goldman Sachs | Downgrades | Buy | Neutral |
Nov 2014 | Wunderlich | Maintains | Buy | |
Nov 2014 | Credit Suisse | Maintains | Neutral |
View More Analyst Ratings for SALE
View the Latest Analyst Ratings
See more from Benzinga
UPDATE: Morgan Stanley Reiterates On ON Semiconductor On Shift In Capital Allocation
UPDATE: Morgan Stanley Reiterates On Walgreen Ahead Of November Sales Report
UPDATE: Credit Suisse Reiterates On United Continental On Minor Model/Price Adjustments
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.