RetailMeNot Looks Like A Great Deal
RetailMeNot: From Early Investors For Investors
Darspal S Mann
Darspal S Mann
If Goldman Sachs Sees 75% Upside For RetailMeNot, I'm A Buyer
R.J. Chopin • 21 Comments
R.J. Chopin • 21 Comments
Tue, May 3, 11:29 AM
- RetailMeNot (NASDAQ:SALE) has slid 7.4% after Q1 earnings where it beat expectations but guided to the light side for Q2
- Net revenues fell off 9.5% as desktop transaction net revenues -- 70% of its total -- dropped 19%, to $38.2M. Mobile revenues were up 7%, however, and in-store plus advertising revenues gained 36%, to $10.5M.
- International markets made up 22% of net revenues. The company broke even on a GAAP basis but non-GAAP net income of $6.3M beat expectations.
- Total website visits fell 10% to 162.2M (desktop visits down 15% to 92.3M; mobile visits down 1% to 69.9M). Mobile unique visitors grew 5% to 19.2M.
- It's guiding to Q2 core revenues of $47M-$52M (vs. $51.3M consensus) and gift card revenues of $11.5M-$12.5M. It sees EBITDA including the GiftCard Zen acquisition of $3M-$7M, lower than an $8.1M expected.
- For the full year, core net revenues are forecast at $228M-$241M (vs. $237.8M consensus), gift card revenue of $43M-$49M and EBITDA (including gift card business) of $50M-$61M vs. $57M consensus.
- Press Release
Thu, Apr. 7, 4:57 PM
- RetailMeNot (SALE -3.4%) has acquired a secondary gift-card marketplace, and updated its 2016 guidance after some preliminary Q1 results.
- The company has acquired GiftCard Zen for $22M plus an $11M deferred payment contingent on performance targets and retaining a key employee. GiftCard Zen, which resells gift cards at a discount to face value, will continue operating out of Phoenix with its management team reporting to RetailMeNot's Lou Agnese.
- For Q1, it expects overall net revenues at $54M-$54.5M, vs. its previous guidance of $49M-$54M and consensus of $52.4M. Net income incorporates an impairment of $832,000 and is expected at -$100,000 to $100,000.
- For the full year, RetailMeNot raised guidance for revenue to $228M-$241M (vs. consensus $233.9M), and for EBITDA to $52M-$63M (vs. consensus $56.1M). At the midpoint of guidance, EBITDA margins would be 24.5%.
- Shares are flat so far in after-hours trading.
- Now read RetailMeNot: Too Cheap To Ignore »
Wed, Feb. 10, 3:47 PM
- RetailMeNot (NASDAQ:SALE) has rebounded today (+9%) a day after soft guidance and a revenue miss sent the stock sliding, -27.6%.
- The earnings drew predictable reactions from analysts who trimmed their targets on share prices. RBC Capital downgraded the company's stock to Underperform, from Sector Perform, and cut its target to $6 from a previous $12.
- Slightly higher targets came from Credit Suisse (cut to $12, from $15) and from Jefferies Group (to $10, from $13). Credit Suisse maintains a Neutral rating on the shares, while Jefferies is sticking with a Buy rating.
- RetailMeNot hit a 52-week low of $5.52 yesterday; shares are down 58.9% over the past year.
- Previously: RetailMeNot -15.7% on revenue miss, soft guidance (Feb. 09 2016)
Tue, Feb. 9, 9:46 AM
- RetailMeNot (NASDAQ:SALE) is 15.7% lower after a Q4 beat where profits still slipped 36% and which featured guidance for 2016 below analyst expectations.
- Of total net revenues that fell 5%: In-store and advertising net revenues were up 57% to $21.7M (26% of total) and mobile online transaction net revenues rose 19% to $9M (11% of total), but the bulk of sales were in desktop online transactions -- 63% of total net revenues, and they declined 21% to $52.4M.
- Total website visits were down 5% to 214.8M, and mobile unique visitors were up 9% to 23.2M.
- The company guided to current-quarter revenue of $49M-$54M (down 15% at midpoint), below an expected $57M. For the full year, RetailMeNot forecasts revenues of $225M-$240M -- down 7% at the midpoint and below a consensus of $247M.
- It's authorized a $50M extension to its $100M stock buyback authorization.
Mon, Jan. 4, 4:43 PM
- RetailMeNot (SALE -2.3%) has named J. Scott Di Valerio its chief financial officer.
- Di Valerio was previously CEO at retail kiosk firm Outerwall, a firm he joined as CFO in 2010. He had also worked in senior positions for Lenovo Group and Microsoft as well as at Walt Disney and Mindwave Software.
- Lou Agnese, who was serving as RetailMeNot's interim CFO, will stay on as senior VP of administration, and Jonathan Kaplan has been named the company's general counsel.
Nov. 13, 2015, 9:29 AM
- RetailMeNot (NASDAQ:SALE) is 8.3% lower premarket amid news that private-equity firm Austin Ventures is distributing its common stock holdings to partners.
- Affiliates of Austin Ventures held 7.6M shares, or 14.6% of the company. Austin Ventures made a similar move last month, with its holdings of Bazaarvoice.
- Shares are down 30% YTD, primarily due to a tumble on Aug. 4 after Q2 earnings. The firm made up ground after Q3 earnings earlier this month.
- Previously: RetailMeNot +19.7% premarket on earnings beat, boosted guidance (Nov. 03 2015)
Nov. 3, 2015, 12:48 PM
Nov. 3, 2015, 9:26 AM
- RetailMeNot (NASDAQ:SALE) is up 19.7% premarket on Q3 earnings that beat on top and bottom lines and full-year guidance that it raised above analyst expectations.
- Adjusted EBITDA of $11.8M (23% of total net revenues) was down 29% but beat an expected $6.3M.
- Net revenue breakout: Desktop online transactions, $35.8M (down 24%); In-store and advertising, $11.8M (up 91%); mobile online transactions, $4.9M (up 55%).
- Total visits declined 1%, to 159.7M: Desktop visits of 92.5M (down 19%); mobile visits were 67.2M (up 41%) and made up 42% of total. Mobile unique visitors were up 28% to 18.6M.
- It's raising full-year guidance and now sees total revenues of $240M-$242M, higher than an expected $236.5M, and adjusted EBITDA of $66M-$68M (28% margin at midpoint), over an expected $60.2M.
Nov. 3, 2015, 9:14 AM
Aug. 12, 2015, 3:59 PM
- A week after losing more than 40% of its value following a disappointing earnings report and guidance, RetailMeNot (NASDAQ:SALE) is a key media gainer today, up 6.3% on heavy volume.
- The company posted a study it commissioned saying that coupons have gained traction as an in-store influencer: Some 65% of consumers use smartphones to find coupons, and more than half say they do that in-store.
- But retailers are struggling to get consumers to use their own retailer apps, the company says, suggesting that partners like RetailMeNot are a path to better engagement.
- After the earnings report, RBC Capital reiterated its Sector Perform rating, but cut its price target to $12 from $21. Shares are trading currently at $9.13.
Aug. 5, 2015, 12:48 PM
Aug. 5, 2015, 9:19 AM
- Gainers: FNJN +60%. BIOC +13%. FSLR +11%. KATE +9%. Z +9%. HRB +8%. OAS +8%. TSEM +8%. PCLN +7%. SLTD +7%. MSI +6%. ATVI +6%. SUPN +6%. LC +6%. CTSH +6%. BBL +6%. SDRL +5%.
- Losers: SALE -33%. OHGI -28%. LL -24%. BOOT -23%. ETSY -20%. TRMB -13%. GLUU -10%. RSO -10%. DIS -9%. NYMT -7%. MEMP -7%. GNW -7%. PWR -7%. CERN -6%. PZZA -6%.
Aug. 5, 2015, 8:40 AM
- Digital marketer RetailMeNot (NASDAQ:SALE) has sunk 33.7% premarket following a Q2 earnings miss where revenues dropped 11% as the company's desktop transactions business fell off.
- Revenue breakout: Desktop online transactions (including tablet), $38.6M (down 25%); Mobile online transactions, $4.9M (up 91%); In-store and advertising, $9.6M (up 72%).
- "Given the change in search traffic within the quarter, we felt it was important to make some adjustments designed to right-size our cost structure and improve execution without reducing our investment in growth," says CEO Cotter Cunningham.
- Total visits were up 6%, to 164M: Desktop visits 97.2M (down 16%); Mobile visits 66.8M (up 72%). Mobile unique visitors were up 44% to 18.4M.
- A cut to guidance means the company now sees Q3 revenues of $47.5M-$50M (light of an expected $63.3M), down 14% at midpoint, and EBITDA of $5M-$7M (below an expected $19.1M). For the full year, it's guiding to revenues of $231M-$239M (below an expected $280.8M) and EBITDA of $56M-$64M (vs. consensus of $93.4M).
May 28, 2015, 10:35 AM
- RetailMeNot (NASDAQ:SALE) is up 2.8% this morning following an initiation of coverage by Topeka Capital Markets at a Buy rating.
- Analyst Blake Harper set a target price for the firm of $28; shares are trading currently at $21.03.
- "We view the company's large and fast growing mobile audience, along with its improving mobile monetization and a reasonable valuation as reasons to own the stock," Harper says.
- Topeka talked with retailers testing in-store promotions to conclude the mobile in-store business has "significant potential" to beat expectations next year and beyond.
May 6, 2015, 10:49 AM
- RetailMeNot (NASDAQ:SALE) has launched a partnership with mobile marketer Swirl Networks to bring more in-store location-based deals to RetailMeNot users.
- Swirl specializes in low-energy Bluetooth beacons in stores that can beam promotions and sales to smartphones in the vicinity. The company recently received a strategic investment from Twitter via an $18M growth investment round.
- RetailMeNot users who opt in would be eligible to receive the offers, which are targeted to as granular a level as where shoppers are in a store and how long they may have lingered at a particular display.
- SALE shares are down 5.2% as the company's yielding to some profit-taking after gaining 16.7% yesterday following a strong Q1 earnings beat.
May 5, 2015, 12:46 PM
RetailMeNot, Inc. operates as a digital coupon marketplace. It offers websites, mobile applications, email newsletters, alerts and social media presence enable consumers to search for, discover and redeem hundreds of thousands of relevant digital coupons from retailers and brands. The company's... More
Industry: Marketing Services
Country: United States
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