Royal Bank Of Canada Issues Pessimistic Forecast for Thryv (NASDAQ:THRY) Stock Price

Thryv (NASDAQ:THRY) had its target price decreased by equities researchers at Royal Bank Of Canada from $3.00 to $2.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price target indicates a potential upside of 67.36% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating on shares of Thryv in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Thryv from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of Thryv from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Thryv has a consensus rating of “Hold” and a consensus target price of $8.25.

Thryv Stock Down 2.0%

THRY traded down $0.03 on Wednesday, reaching $1.20. 91,825 shares of the company’s stock were exchanged, compared to its average volume of 881,180. The company’s 50 day moving average is $1.67 and its 200-day moving average is $3.15. Thryv has a twelve month low of $1.11 and a twelve month high of $12.08.

Thryv (NASDAQ:THRY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The company had revenue of $150.73 million for the quarter, compared to analysts’ expectations of $145.98 million. Sell-side analysts expect that Thryv will post -0.36 earnings per share for the current year.

Insider Transactions at Thryv

In other news, CEO Joe Walsh acquired 25,000 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was bought at an average cost of $1.80 per share, with a total value of $45,000.00. Following the transaction, the chief executive officer directly owned 788,099 shares in the company, valued at approximately $1,418,578.20. This represents a 3.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.50% of the stock is owned by company insiders.

Institutional Trading of Thryv

Large investors have recently modified their holdings of the business. DGS Capital Management LLC purchased a new stake in shares of Thryv during the first quarter worth about $31,000. Meeder Asset Management Inc. boosted its holdings in Thryv by 53.4% in the first quarter. Meeder Asset Management Inc. now owns 15,008 shares of the company’s stock valued at $41,000 after purchasing an additional 5,226 shares during the last quarter. Corient Private Wealth LP purchased a new position in Thryv in the second quarter valued at about $47,000. SummerHaven Investment Management LLC acquired a new stake in Thryv during the 3rd quarter valued at approximately $72,000. Finally, Mcmorgan & Co. LLC acquired a new stake in Thryv during the 2nd quarter valued at approximately $82,000. 96.38% of the stock is currently owned by institutional investors and hedge funds.

Thryv Company Profile

Thryv Holdings, Inc (NASDAQ:THRY) provides software and digital marketing services for small and medium-sized businesses. Its Thryv platform is designed to help businesses manage customer relationships, appointments, communications, estimates, invoices, payments and online reviews through a centralized business-management system.

The company also offers tools for digital marketing and customer acquisition, including website and social media management, online presence services, lead generation, automated communications and reputation management.