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MarketScreener Homepage  >  Equities  >  Nyse  >  Quotient Technology Inc.    QUOT

QUOTIENT TECHNOLOGY INC.

(QUOT)
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Quotient Technology : Partners with Shipt to Enable Consumer Savings with Digital Coupons

05/06/2020 | 08:00am EST

Partnership provides millions of households with access to savings as online grocery shopping skyrockets

Quotient (NYSE: QUOT), the leading digital promotions, media, and analytics company, announced today a partnership with Shipt, the same-day delivery marketplace, to launch digital coupons for groceries and household essentials to customers through the Shipt website and app.

The partnership comes at an unprecedented time when online grocery delivery services have seen a dramatic increase in use as hundreds of millions of Americans are social distancing at home due to COVID-19. A recent survey showed 31%1 of U.S. households have used an online grocery delivery or pickup service in March alone. Shipt has seen a significant increase in app downloads and has added 80,000 new Shipt Shoppers to its community during the pandemic.

With the partnership, Quotient will enable Shipt for the first time to provide national manufacturers’ coupons from such well-known consumer-packaged goods (CPG) brands as Bayer HealthCare, Kimberly-Clark, Colgate-Palmolive, and Johnson & Johnson.

This new integration between Shipt and Quotient brings benefits for everyone. Consumers save money from brands they love, with the convenience of groceries being delivered right to their door; retailers drive eCommerce growth by adding digital coupons into their online experience, creating a better omnichannel experience for customers; and CPGs reach millions of additional customers with product offerings in new, growing eCommerce channels, which increases their sales.

For Shipt, the partnership provides customers the opportunity to save money through national digital coupons as Shipt continues to grow its network of 90+ retailers across more than 5,000 U.S. cities. For Quotient, this marks an exciting way to expand its retailer network, deliver value to online customers, and drive eCommerce sales for CPGs and retailers.

“We’re thrilled to welcome Shipt to the Quotient network as we continue to transform the shopping experience to make life easier and help customers,” said Steven Boal, CEO and Chairman of the Board, Quotient. “Our ability to provide value and savings to customers, whether in-store or online, is key for long-term growth in grocery eCommerce.”

The program, which is up and running now, is extremely easy for consumers to use. New and existing customers can log on to their Shipt account and select the retailer from which they wish to shop. Customers discover coupons as they browse the items they need, and coupons also appear for applicable items on product pages. Once selected, coupons are redeemed when items are purchased and delivered by a Shipt Shopper. As the next step, customers will soon be able to “clip” coupons in the Savings Tab in the app to later be redeemed at checkout. This feature is expected to be live in mid-May.

Quotient delivers digital coupons through its Quotient Promotions Network, which powers digital savings to grocery, drug, mass, and club stores across the country. To tap into digital savings from Shipt, visit Shipt.com or download the Shipt app. For more information about digital solutions and promotions from Quotient, visit www.Quotient.com.

About Shipt

Shipt brings the store to your door. Through a community of Shipt Shoppers and a convenient app, Shipt provides personal shopping and delivery and is available to 70% of households in more than 5,000 U.S. cities. Shipt Shoppers go above and beyond, communicating in real time about preferences and substitutions. A curated marketplace of retailers, Shipt offers access to a variety of stores and product categories including fresh foods, household essentials, wellness products, and pet supplies. Shipt is an independently operated, wholly owned subsidiary of Target Corp. Founded and headquartered in Birmingham, Alabama, Shipt also maintains an office in San Francisco. For more information, visit Shipt.com.

About Quotient

Quotient Technology (NYSE: QUOT) is the leading digital promotions, media, and analytics company that delivers personalized digital coupons and ads – informed by proprietary shopper and online engagement data – to millions of shoppers daily. We use our proprietary Promotions, Media, Audience, and Analytics Platforms and services to seamlessly target audiences, optimize performance, and deliver measurable, incremental sales for CPG and retail marketers. We serve hundreds of CPGs and retailers nationwide, including Clorox, Procter & Gamble, General Mills, Unilever, Albertsons Companies, CVS, Dollar General, and Ahold-Delhaize USA. Quotient is headquartered in Mountain View, California, and has offices in Bangalore, Cincinnati, New York, Paris, London, and Tel Aviv. Visit www.quotient.com for more information.

Quotient and the Quotient logo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United States and other countries. Other marks are the property of their respective owners.

1. A March 2020 survey from consulting firm Brick Meets Click.


© Business Wire 2020
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Financials (USD)
Sales 2020 427 M - -
Net income 2020 -45,6 M - -
Net cash 2020 187 M - -
P/E ratio 2020 -19,9x
Yield 2020 -
Capitalization 918 M 918 M -
EV / Sales 2020 1,71x
EV / Sales 2021 1,44x
Nbr of Employees 1 072
Free-Float 83,9%
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 11,46 $
Last Close Price 10,09 $
Spread / Highest target 38,8%
Spread / Average Target 13,6%
Spread / Lowest Target -22,7%
EPS Revisions
Managers and Directors
NameTitle
Steven R. Boal Executive Chairman & Chief Executive Officer
Scott Raskin President
Pamela J. Strayer Chief Financial Officer & Treasurer
Andrew Jody Gessow Independent Director
Steven Michael Horowitz Independent Director
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