Goldman Sachs Downgrades ValueClick (VCLK) to Neutral
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Price: $21.00 --0%
Rating Summary:
4 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
Rating Summary:
4 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
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Goldman Sachs downgraded ValueClick, Inc (NASDAQ: VCLK) from Buy to Neutral with a price target of $29.00 (from $31.00). Analyst Debra Schwartz noted near-term uncertainty and increasing competitions.
"We remove ValueClick from our Americas Buy List as we believe increasing competition in affiliate marketing and a deliberate shift in resources away from the higher growth ad tech business could keep the stock range-bound near term," said Schwartz.
"Our channel checks indicate competition from lower priced affiliate marketing companies is increasing, potentially limiting upside to new client wins from the Google Affiliate Network, which was shut down in 2Q, and margins longer term," she added.
For an analyst ratings summary and ratings history on ValueClick, Inc (NASDAQ: VCLK) click here. For more ratings news on ValueClick, Inc click here.
Shares of ValueClick, Inc closed at $25.40 yesterday.
"We remove ValueClick from our Americas Buy List as we believe increasing competition in affiliate marketing and a deliberate shift in resources away from the higher growth ad tech business could keep the stock range-bound near term," said Schwartz.
"Our channel checks indicate competition from lower priced affiliate marketing companies is increasing, potentially limiting upside to new client wins from the Google Affiliate Network, which was shut down in 2Q, and margins longer term," she added.
For an analyst ratings summary and ratings history on ValueClick, Inc (NASDAQ: VCLK) click here. For more ratings news on ValueClick, Inc click here.
Shares of ValueClick, Inc closed at $25.40 yesterday.
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