MarketWise slips as Raymond downgrades to 'market perform'

MarketWise

25/03/2022 13:59

** Shares of independent research provider  MKTW.O  down
2.4% at $5.54 in early trading
    ** Raymond James cuts rating on stock to "market perform"
from "outperform"
    ** "The trends for both billings and paid subscribers have
been going in the wrong direction since reaching their
respective high water marks in 1Q21" - Raymond
    ** Says co's commentary that paid subscriber count is
expected to decline in Q1 for the third time in four quarters is
concerning
    ** Brokerage adds that things will likely improve at some
point for co but it is increasingly unclear on when that might
be
    ** Avg. rating of 7 analysts is "buy"; median PT is $7.50 -
Refinitiv data
    ** Stock down ~26% YTD

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))