Quotient Technology Inc
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Consumer Discretionary : Internet & Direct Marketing Retail | Small Cap Growth
Company profile

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. The Company's network includes its Website and mobile properties of its consumer brand, Coupons.com, as well as its other owned and operated properties, and thousands of its publisher partners. In addition, the Company operates its platform, Retailer iQ, on a co-branded or white label basis with its retailer partners, providing them a digital platform to directly engage their shoppers across their Websites, mobile, e-commerce, and social channels. Retailer iQ integrates with retailers' POS technology and leverages a set of shopper insights, including online behaviors, purchase, and purchase intent data to drive personalized and targeted promotions and media.

Closing Price
$14.26
Day's Change
0.46 (3.33%)
Bid
--
Ask
--
B/A Size
--
Day's High
14.31
Day's Low
13.22
Volume
(Above Average)
Volume:
1,065,907

10-day average volume:
949,351
1,065,907

Micron stock surges to highest prices since the dot-com boom as analysts see cloud demand improving

3:12 pm ET November 23, 2020 (MarketWatch)
Print

By Wallace Witkowski

Memory-chip maker hits 20-year high as analysts say demand is building from hyperscale data-center builders like Facebook and Microsoft

Micron Technology Inc. shares rallied Monday to a 20-year high as analysts said cloud data center demand was improving for the memory chip maker.

Micron (MU) shares gained as much as 5% Monday, and were last up 4.2% at $63.98. Should shares close at that level, it would be the stock's highest close since the waning days of the dot-com boom -- Sept. 19, 2000, when Micron shares closed at $65.19.

Mizuho analyst Vijay Rakesh hiked his price target on the stock to $70 from $56 in a Monday note, and said his checks indicate a rebound in cloud data-center demand in the first quarter of 2021, driven by Facebook Inc. (FB) and Microsoft Corp. (MSFT)

"A faster than expected cloud recovery should position memory suppliers better as they have been reducing inventory," Rakesh, who has a buy rating on Micron, wrote. "We also note one of the biggest headwinds for the memory suppliers into 2H20 has been cloud/WFH softness in 2H20, and a rebound in 1H21 could position them well against a backdrop of declining supply, controlled capex and lower inventory levels."

Micron sells DRAM, or dynamic random access memory, the type of memory commonly used in PCs and servers, and NAND, which are the flash memory chips used in USB drives and smaller devices, such as digital cameras.

Also in a Monday note, Cowen analyst Karl Ackerman, who has an outperform rating and a $57 price target, said memory demand is showing signs of improving "across mobile/ gaming end markets while hyperscale data center and auto markets remain healthy."

"We continue to expect that FebQ should be seasonally soft, and that view has increasingly become consensus," Ackerman said. "We think the company sounded more optimistic on DRAM than NAND in 2021, driven by its view of inventory, demand momentum, and the last few quarters of industry capex investment."

In late September, Micron shares came under pressure (https://www.marketwatch.com/story/micron-stock-falls-as-company-confirms-challenges-ahead-11601478366) when the company said sales to Chinese telecommunications-equipment company Huawei -- which was banned from buying U.S. chips under President Donald Trump (https://www.marketwatch.com/story/trump-administration-moves-to-cut-huawei-off-from-semiconductor-suppliers-2020-05-15) -- accounted for 10% of revenue. The current quarter is the first to fall under the ban.

For the year, Micron shares are up 19%, while the PHLX Semiconductor Index is up 40%, the S&P 500 index is up 10%, and the tech-heavy Nasdaq Composite Index is up 32%. Of the 34 analyst who cover Micron, 27 have buy-equivalent ratings, six have hold ratings, and one has a sell rating, along with an average target price of $63.69, according to FactSet data.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 23, 2020 15:12 ET (20:12 GMT)

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