Wedbush initiates coverage on Marketwise with 'outperform' rating

MarketWise

19/08/2021 13:51

** Wedbush initiates coverage on independent research
provider Marketwise Inc  MKTW.O  with "outperform" rating and
$12 price target
    ** Brokerage says that though co's Q2 2021 results presented
some challenges regarding near-term subscriber headwinds, given
reopening headwinds are still transitory in nature, Marketwise
to move into more normalized growth
    ** Brokerage remains cautious on co's subscriber outlook in
Q3, but sees both subscribers and billings to return to
sequential growth in Q4
    ** Last week, Marketwise reported 50.4% increase in Q2 total
billings, while its total net loss came in at $8.4 mln 
 urn:newsml:reuters.com:*:nGNX6bb63z
    ** Co also said its total paid subscribers decreased by
7,000 in Q2 as compared with Q1 
    ** Of five brokerages covering rate the stock, four rate it
as "buy" or higher, and one "hold"; their median PT is $15 -
Refinitiv
    ** Shares down over 9.6% this year, as of its last close

 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))