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Needham & Company Cuts Price Target on Bankrate (RATE); Says Headwinds may Persist into 1Q16
February 25, 2016 6:53 AM ESTNeedham & Company reiterated a Buy rating on Bankrate (NYSE: RATE), and cut the price target to $15.00 (from $20.00), following the company's 4Q earnings report. Needham is expecting RATE to open significantly lower due to disappointing results. revenue of $93.4mm, and Adjusted EBITDA of $28.5mm, both came in below estimates. Competitive issues and downward... More
