Quotient Technology Inc. (QUOT) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of Quotient Technology Inc. (NYSE:QUOT) from a hold rating to a buy rating in a report issued on Saturday morning.
QUOT has been the subject of several other research reports. Wedbush reiterated an ourperform rating and set a $16.00 price target on shares of Quotient Technology in a report on Monday, July 31st. Maxim Group reiterated a buy rating and set a $15.00 price target on shares of Quotient Technology in a report on Wednesday, May 3rd. Finally, TheStreet downgraded Quotient Technology from a c rating to a d+ rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Quotient Technology has an average rating of Buy and a consensus price target of $15.57.
Quotient Technology (NYSE QUOT) opened at 14.30 on Friday. Quotient Technology has a 1-year low of $9.10 and a 1-year high of $14.75. The firm has a 50 day moving average of $12.81 and a 200 day moving average of $11.56. The firm’s market cap is $1.32 billion.
Quotient Technology (NYSE:QUOT) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Quotient Technology had a negative return on equity of 2.92% and a negative net margin of 5.61%. The firm had revenue of $74.49 million during the quarter, compared to the consensus estimate of $73.72 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Quotient Technology will post $0.25 EPS for the current year.
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Quotient Technology declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 2nd that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the technology company to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Quotient Technology news, CEO Steven R. Boal sold 40,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $11.27, for a total value of $450,800.00. Following the completion of the transaction, the chief executive officer now owns 1,088,823 shares in the company, valued at approximately $12,271,035.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven R. Boal sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $14.14, for a total value of $848,400.00. Following the completion of the transaction, the chief executive officer now owns 788,823 shares of the company’s stock, valued at approximately $11,153,957.22. The disclosure for this sale can be found here. Insiders sold a total of 415,724 shares of company stock valued at $5,129,746 in the last 90 days. Corporate insiders own 11.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in QUOT. BNP Paribas Arbitrage SA increased its position in shares of Quotient Technology by 595.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,449 shares of the technology company’s stock worth $109,000 after buying an additional 8,091 shares during the period. Airain ltd acquired a new position in shares of Quotient Technology during the first quarter worth about $110,000. Koch Industries Inc. acquired a new position in shares of Quotient Technology during the first quarter worth about $114,000. Principal Financial Group Inc. increased its position in shares of Quotient Technology by 4.0% in the first quarter. Principal Financial Group Inc. now owns 12,385 shares of the technology company’s stock worth $118,000 after buying an additional 474 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Quotient Technology during the second quarter worth about $125,000. Hedge funds and other institutional investors own 71.27% of the company’s stock.
About Quotient Technology
Quotient Technology Inc is a provider of digital platform that enables consumer packaged goods (CPG) brands and retailers to engage shoppers through personalized and targeted promotions and media. Through the Company’s platform, CPGs and retailers are able to use online and in-store point-of-sale (POS) shopper data and analytics.
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