RBC Capital Raises Price Target on Quotient Technology (QUOT) Following 2Q Beat

RBC Capital reiterated a Sector Perform rating on Quotient Technology (NYSE: QUOT), and raised the price target to $11.00 (from $8.00), following the company's 1Q earnings report. QUOT reported revenue of $66.1MM, materially higher than the Street's $60.7MM estimate. Management expects revenues for 2Q to be between $62-$64MM, vs. the Street's $61MM. Management raised the FY16 guidance mid-point by a bit more than the beat, which RBC believes is likely a bit conservative.

Analyst Mark Mahaney commented, "QUOT reported a Beat & Raise Q1, with revenue just above the high-end of guide. Upside was driven by record transaction growth, which led to outperformance from Digital Promotions Revenue. Raising ests; PT to $11. Maintain Sector Perform, but incrementally more positive."

For an analyst ratings summary and ratings history on Quotient Technology click here. For more ratings news on Quotient Technology click here.

Shares of Quotient Technology closed at $11.34 yesterday.

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• Voestalpine AG (VOE:AV) (VLPNF) PT Lowered to EUR33 at Barclays
• Banner Corporation (BANR) PT Lowered to $51 at Piper Sandler