RBC Capital Upgrades Quotient Technology (QUOT) to Outperform
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RBC Capital upgraded Quotient Technology (NYSE: QUOT) from Sector Perform to Outperform with a price target of $15.00 (from $14.00) following In-Line Q3, with very robust and accelerating Transactions growth driven by continued Retailer iQ adoption, offset by some softness in the Media segment.
Analyst Mark Mahaney highlighted the following keys:
1) Transactions Growth – Transactions growth accelerated 15-pts to 69% Y/Y, driven by Digital Paperless, which now accounts for 70% of all transactions. And Retailer iQ transactions were 78% of all Digital Paperless transactions, with the majority occurring on Mobile.
2) Retailer IQ Traction – Quotient now has 19 (vs. 18 in Q2) major retail banners implemented and 13 marketing (in-line with Q2). Quotient also announced it signed a large retailer in the Drug channel onto Retailer iQ in Q3.
3) Margin Trends – Organic Gross Margin of 61% was up an impressive +130 bps Y/Y, while EBITDA margins of 13% were up >900 bps Y/Y and >120 bps Q/Q and the highest EBITDA margins have been since H2:14.
Shares of Quotient Technology closed at $10.75 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Upgrades
Related EntitiesRBC Capital, Mark Mahaney
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