RetailMeNot (SALE) Bullish Stance Reiterated at Wunderlich on Pickup in Mobile Traction

Wunderlich Securities analyst Blake Harper reiterated a Buy rating and $28 price target on RetailMeNot Inc. (NASDAQ: SALE), saying mobile commerce is picking up traction.

Harper commented, "RetailMeNot, Inc. (SALE) appears poised to benefit from stronger consumer adoption of mobile commerce, now above 30% of online sales, and higher conversion rates so far in 2015. Mobile commerce is accelerating in the U.S. according to multiple industry reports and we believe this should help improve RetailMeNot’s mobile monetization and overall mobile revenues. SALE should have some upcoming catalysts from stronger mobile commerce, which could help improve its mobile monetization rate, which we view as the single most critical factor for the stock, and we see potential upside to our estimate for mobile online revenues to be up 80% Y/Y in 2015, which implies only modest improvement in the mobile monetization rate."

For an analyst ratings summary and ratings history on RetailMeNot Inc. click here. For more ratings news on RetailMeNot Inc. click here.

Shares of RetailMeNot Inc. closed at $17.79 yesterday.

You May Also Be Interested In

• Jefferies Downgrades Hims and Hers (HIMS) to Hold
• Evercore ISI Starts Camtek (CAMT) at Outperform, 'Advanced Packaging Pure-Play'
• Evercore ISI Starts FormFactor (FORM) at In Line, 'Testing Pure-Play'