Needham downgrades Vacasa to 'hold'

Vacasa

31/12/2024 10:06

** Brokerage Needham downgrades vacation rental management
co Vacasa Inc  VCSA.O  to "hold" from "buy"
    ** Says co is facing significant challenges in increasing
its supply of rental properties
    ** Estimates Gross Booking Value (GBV) to decline through
2025, dragged by lower GBV per night sold as well as declining
nights sold
    ** However, Needham sees opportunity for VCSA to aggregate
demand by providing better outcomes for property owners who use
its purpose-built tech stack, generating more money and spending
less time on managing rentals
    ** Co announced on Monday it will merge with fellow vacation
rental firm Casago, which will acquire Vacasa shares at $5.02
each
    ** Avg. rating of six brokerages covering the stock is a
"hold"; median PT $3.25 - LSEG
    ** Up to Monday's close, stock down ~41% YTD

 (Reporting by Joel Jose in Bengaluru)
 ((joeljose@thomsonreuters.com))