Zacks Downgrades Constant Contact to Hold (CTCT)

Constant Contact (NASDAQ:CTCT) was downgraded by Zacks from a “buy” rating to a “hold” rating in a research note issued on Thursday, Marketbeat.com reports.

According to Zacks, “Constant Contact is the leading provider of on-demand email marketing solutions for small businesses, nonprofits, and associations. Constant Contact is a registered trademark and the Constant Contact Logo is a trademark of Constant Contact, Inc. All other company names may be trademarks or service marks of their respective owners. “

Several other equities research analysts have also commented on the stock. Roth Capital reaffirmed a “buy” rating on shares of Constant Contact in a research note on Saturday, July 25th. Canaccord Genuity decreased their target price on shares of Constant Contact from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Oppenheimer lowered shares of Constant Contact from an “outperform” rating to a “market perform” rating in a research note on Friday, July 24th. They noted that the move was a valuation call. Northland Securities began coverage on shares of Constant Contact in a research note on Friday, July 31st. They set a “market perform” rating and a $27.00 target price on the stock. Finally, Credit Suisse assumed coverage on shares of Constant Contact in a research note on Tuesday, September 8th. They issued a “neutral” rating and a $29.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Constant Contact currently has a consensus rating of “Hold” and a consensus price target of $35.73.

In other news, SVP Robert P. Nault sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $25.00, for a total value of $312,500.00. Following the completion of the sale, the senior vice president now directly owns 8,883 shares in the company, valued at approximately $222,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher Litster sold 8,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $24.30, for a total value of $198,069.30. Following the completion of the sale, the senior vice president now owns 7,896 shares of the company’s stock, valued at $191,872.80. The disclosure for this sale can be found here.

Shares of Constant Contact (NASDAQ:CTCT) traded down 0.47% during mid-day trading on Thursday, hitting $25.63. 115,464 shares of the stock were exchanged. The company has a market cap of $824.98 million and a P/E ratio of 45.20. The stock’s 50-day moving average price is $25.01 and its 200-day moving average price is $27.84. Constant Contact has a 52-week low of $22.75 and a 52-week high of $43.18.

Continuous Contact, Inc. (NASDAQ:CTCT) is a provider of online marketing tools for small organizations, including small businesses, associations and nonprofits. The Business’s instruments include Email Marketing, EventSpot, Social Campaigns, SaveLocal, SinglePlatform and Survey. Continuous Contact Toolkit, which can be an online marketing platform is also provided by it. Toolkit functions the little organizations to find and participate with customers across various marketing channels, including e-mail, Web, mobile and social. Toolkit can be obtained to customers in three packages: Email Plus Email and Personal Marketer. Its offering that is Email is for the customers of email marketing merchandise. Its Email Plus comprises email marketing product, in addition to access to its other marketing offerings, including conducting surveys, managing occasions online, running promotions and offers and getting responses. Its Personal Marketer package includes various Toolkit offerings.document.write(‘‘);

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Zacks Downgrades Constant Contact to Hold (CTCT)