Needham & Company LLC Reiterates Buy Rating for Thryv (NASDAQ:THRY)

Thryv (NASDAQ:THRY)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $28.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 69.39% from the stock’s current price.

A number of other brokerages have also recently weighed in on THRY. Craig Hallum began coverage on shares of Thryv in a research note on Wednesday, October 2nd. They set a “buy” rating and a $25.00 price objective on the stock. Robert W. Baird dropped their price objective on Thryv from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th.

Thryv Price Performance

NASDAQ THRY opened at $16.53 on Wednesday. The company has a 50-day moving average price of $16.09 and a two-hundred day moving average price of $17.68. Thryv has a 52 week low of $13.06 and a 52 week high of $26.42. The stock has a market cap of $694.92 million, a price-to-earnings ratio of -1.71 and a beta of 0.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.70.

Thryv (NASDAQ:THRY) last posted its earnings results on Thursday, November 7th. The company reported ($2.65) EPS for the quarter, missing the consensus estimate of ($2.53) by ($0.12). Thryv had a negative net margin of 38.87% and a negative return on equity of 42.95%. The business had revenue of $179.85 million during the quarter, compared to analyst estimates of $179.24 million. During the same quarter in the prior year, the business earned ($0.78) earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. Analysts forecast that Thryv will post -2.17 EPS for the current year.

Hedge Funds Weigh In On Thryv

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Thryv during the second quarter worth approximately $1,388,000. SummerHaven Investment Management LLC boosted its position in Thryv by 2.4% during the second quarter. SummerHaven Investment Management LLC now owns 29,857 shares of the company’s stock valued at $532,000 after purchasing an additional 703 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Thryv by 3.9% in the second quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company’s stock valued at $283,000 after purchasing an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Thryv by 78.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,521 shares of the company’s stock worth $134,000 after purchasing an additional 3,303 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Thryv during the 2nd quarter worth about $143,000. Hedge funds and other institutional investors own 96.38% of the company’s stock.

About Thryv

Thryv Holdings, Inc provides digital marketing solutions and cloud-based tools to the small-to-medium sized businesses in the United States. It operates through four segments: Thryv U.S. Marketing Services, Thryv U.S. SaaS, Thryv International Marketing Services, and Thryv International SaaS. The company provides print yellow pages, internet yellow pages, and search engine marketing; and other digital media solutions, such as online display and social advertising, online presence and video, and search engine optimization tools.