UBS starts coverage on Marketwise with 'buy' rating, shares up

MarketWise

01/09/2021 16:38

** Shares of financial research provider  MKTW.O  up 2% at
$9.20
    ** UBS starts coverage on MKTW with "buy" rating and PT of
$14 
    ** Brokerage says MKTW will benefit from strong growth in
self-directed investors and demand for investment ideas and
education
    ** Strong industry trends, MKTW's advanced marketing
platform and potential M&A will drive revenue (billings) and
cash flow growth - brokerage
    ** UBS expects MKTW's tech-enabled research and marketing
platform to drive paid subscriber growth of 27% in FY 2021 and
20% in FY 2022
    ** Expect billings growth of 39% in FY 2021 and 31% in FY
2022, driven by high-value subscriptions - UBS
    ** Last month, MKTW reported 50.4% increase in Q2 total
billings, while its total net loss came in at $8.4 mln
 urn:newsml:reuters.com:*:nL8N2PJ5EG  
    ** Of five brokerages, two rate the stock "strong buy", two
"buy" and one "hold"; median PT is $15 - Refinitiv data
    

 (Reporting by Siddarth S)
 ((Siddarth.s@thomsonreuters.com;))