The Tech sector is one of the strongest in the stock market. Even during the coronavirus pandemic, lots of tech stocks managed to not only survive the crushing crisis but also flourish. In the current situation, even those stocks that remained mostly unharmed could be considered a good investment. But is Quotient Technology one of them?
Quotient creates digital coupons, personalized by the use of deep data dives, such as website visitations, purchasing behaviors, and online shopping histories. This digital tech company also offers marketing solutions for e-commerce. The company is quite successful.
However, like many other firms, Quotient struggled in the first half of 2020 due to the pandemic. While a net loss in each quarter is usual for tech operators, the decline was sharper in the first and second quarters. End-use consumers alerted their purchasing habits as they had lost their jobs or had been forced to stay home during the lockdowns.
Even with its shrinking financials, analysts recommend Quotient as a good investment. Chad Bennett from Craig-Hallum gave Quotient a Buy rating, setting his price target at $14. With this price target, investors could gain 60% during the next twelve months.
Bennett thinks that coronavirus will help to clear a way forward for the company. The pandemic is accelerating the adoption of grocery and CPG innovations, which will cause a rise in demand for Quotient’s solutions. According to the analyst, the signing of Rite Aid and Hyvee as Retailer iQ and Performance Media partners indicate the truth of this claim. Bennett is quite assured that Quotient has good potential to be prosperous.
However, the analyst consensus rating on the stock is a Moderate Buy. Presently, its shares are trading for $8.76. The average price target for the stock is $10.65. And it suggests a 21.5% upside potential.
Key Points: Stable Above $0.50: XRP maintains price stability above $0.50, indicating investor confidence despite market volatility. Technical Breakthroughs: Recent…
Key Points The UK economy grew by 0.6% in Q1, surpassing expectations by beating forecasts of 0.4%. roduction rose by…
Key Points: Dow Jones gains for 7th day; It has risen by 0.85%, marking its longest gain streak since December.…
Key Points: Rising Oil Prices: Brent crude at $84.33/barrel and WTI crude at $79.26/barrel, a 2% weekly increase. Geopolitical Tensions:…
Key Points: EUR/GBP trades near 0.8600 with key support at 200-hour and 200-day EMAs. BoE held interest rates steady in…
Key Points: GBP/USD Rises to 1.2525 from 1.2445 amid expectations for economic announcements and shifts in UK and US monetary…
This website uses cookies.