UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on RetailMeNot Following Impressive Quarter Report

In a report published Friday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating on RetailMeNot SALE, and raised the price target from $38.00 to $44.00. In the report, Wunderlich Securities noted, “RetailMeNot, Inc. (SALE) reported results in its seasonally strongest Q4 period, well above us and the consensus: $78.5 million in revenues, up 55% Y/Y compared to $68.8 million, and up 35% Y/Y due to a strong promotional period by retailers and strong mobile activity. Q4 EBITDA and non-GAAP EPS also beat our estimates and the consensus and the company guided Q1 and FY14 revenues and EBITDA higher as well. It was a very clean quarter; the company is executing well on its core business and is on the cusp of penetrating a much larger adjacent market with mobile/in-store coupons. We are raising our price target from $38 to $44 based on our DCF model with higher estimates, which implies valuation multiples of 7x EV/S, 18x EV/EBITDA, and 34x P/E on FY15 estimates, which is in line with peers.” RetailMeNot closed on Thursday at $37.27.