Home Top Movers Why did Quotient Technology Inc (QUOT) stock plunge on Monday?

Why did Quotient Technology Inc (QUOT) stock plunge on Monday?

Quotient Technology Inc. (QUOT) shares plunged 32.42% to trade at $11.4 in after-market on Monday, May 17, 2021. Earlier, QUOT’s stock lost 5.86% to close Monday’s session at $11.40. QUOT shares have soared 100.70% over the last 12 months, and they have moved down 6.40% in the past week. Over the past three months, the stock has lost 9.52%, while over the past six months, it has risen 60.11%.

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Participation in Adweek’s fourth annual Elevate: AI event

On May 17, 2021, Quotient said that Thalya Hamilton, VP, Data and Analytic Product, and David Fanska, Director of Analytics and Data Science, will speak together at Adweek’s fourth annual Elevate: AI event which will take place on Tuesday, May 18 at 2:10 p.m. EDT.

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Recent financial results announcement

On May 5, 2021, Quotient Technology Inc announced its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

  • Quotient Technology reported revenue of $115.3 million in Q1 2021 compared to $98.8 million in Q1 2020.
  • Total operating expenses were $52.54 million in Q1 2021 compared to $51.18 million in Q1 2020.
  • It suffered an operating loss of $ 9.21 million in Q1 2021 compared to $13.5 million in Q1 2020.
  • The company suffered a net loss of $13.41 million or $0.15 net loss per basic and diluted share in Q1 2021 compared to $16.8 million or $0.19 net loss per basic and diluted share in Q1 2020.
  • For Q1 2021, the Adjusted EBITDA was $6.84 million compared to $5.1 million in Q1 2020.
  • As of March 31, 2021, Quotient had cash and cash equivalents of $241.1 million.

Q2-2021 Financial outlook

For Q2, 2021, Quotient Technology is expecting

  • Revenue of $117.0 million to $125.0 million
  • Adjusted EBITDA between $2.0 million to $12.0 million
  • Operating Cash Flow of $5.0 million to $10.0 million 

New chief analytics officer appointment

On April 27, 2021, Quotient Technology appointed Matthew Krepsik as Chief Analytics Officer. Krepsik will lead the company’s data, analytics, and measurement practice.

Krepsikhas more than 15 years of experience with data analysis in various managerial roles at Nielsen. He holds economics bachelor’s and Master’s degrees from Marshall and Miami University, respectively.

Vaccination Dashboard announcement

On April 20, 2021, Quotient Technology launched a Vaccination Dashboard which will identify opportunities to reach consumers at COVID-19 vaccination distribution locations, including grocery stores, pharmacies, and doctors’ offices across the U.S.

Quotient Technology partnership with Plum Market

On April 13, 2021, Quotient Technology partnered with a grocery chain, Plum Market, to offer savings to more consumers by providing a wider variety of digital coupons and rebates directly in the Plum Market app.

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Conclusion

As of this writing, we are unable to know why QUOT lost significantly on Monday. There is no recent news in the market about QUOT. We are unable to predict how it will perform on Tuesday.

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