RBC Capital Upgrades Quotient Technology (QUOT) to Outperform
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
- Mizuho Securities Cuts Price Target on Express (EXPR) Following 3Q Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Upgrades
Related EntitiesRBC Capital, Mark Mahaney
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!