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Goldman Sachs Starts RetailMeNot Inc. (SALE) at Neutral

August 13, 2013 8:23 AM EDT Send to a Friend
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Price: $25.07 -0.52%

Rating Summary:
    5 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 21 | New: 12
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Goldman Sachs initiated coverage on RetailMeNot Inc. (NASDAQ: SALE) with a Neutral rating and a price target of $31. Analyst Debra Schwartz thinks the company is a category leader but in his view valuation is full.

"RetailMeNot is the category leader in digital couponing, a category with a large addressable market that is still in the early stages of shifting online. While RetailMeNot continues to see strong usage growth across its site and mobile app and is innovating in new technologies, the platform shift to mobile presents uncertainty in customer acquisition and monetization," said Schwartz. "With the stock trading at 16X 2014E EV/EBITDA, we believe RetailMeNot’s strong growth potential is appropriately reflected in current valuation given the uncertainty in mobile and competitive risks."



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 $32.28 yesterday.




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