D. Boral Capital Reiterates "Buy" Rating for FiscalNote (NYSE:NOTE)

Key Points

• D. Boral Capital has reiterated a "buy" rating for FiscalNote (NYSE:NOTE) with a price target of $3.75.
• Other analysts have mixed views on the stock, with Wall Street Zen downgrading it from a "hold" to a "sell" rating, while five analysts continue to support a buy rating.
• FiscalNote reported a revenue of $23.26 million for the most recent quarter, exceeding expectations, but has negative metrics like a 41.79% net margin and an expected earnings per share of -0.43 for the current fiscal year.

FiscalNote (NYSE:NOTE - Get Free Report)'s stock had its "buy" rating restated by equities researchers at D. Boral Capital in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $3.75 price target on the stock.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of FiscalNote from a "hold" rating to a "sell" rating in a research report on Saturday. LADENBURG THALM/SH SH began coverage on shares of FiscalNote in a research note on Thursday, May 1st. They set a "buy" rating and a $2.50 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2.95.

FiscalNote Stock Performance

Shares of NOTE opened at $0.56 on Tuesday. FiscalNote has a 52 week low of $0.48 and a 52 week high of $2.03. The stock has a 50 day moving average price of $0.63 and a two-hundred day moving average price of $0.84. The firm has a market capitalization of $87.97 million, a P/E ratio of -1.74 and a beta of 0.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.28 and a current ratio of 1.28.

FiscalNote (NYSE:NOTE - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $23.26 million for the quarter, compared to analysts' expectations of $22.83 million. FiscalNote had a negative net margin of 41.79% and a negative return on equity of 60.80%. Equities analysts forecast that FiscalNote will post -0.43 earnings per share for the current fiscal year.

Insider Activity at FiscalNote

In other news, Director Tim Hwang sold 56,155 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $0.58, for a total transaction of $32,569.90. Following the sale, the director directly owned 2,700,406 shares in the company, valued at $1,566,235.48. This trade represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 138,758 shares of company stock worth $85,834. 41.75% of the stock is owned by company insiders.

Institutional Trading of FiscalNote

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of FiscalNote by 7.9% during the 4th quarter. Northern Trust Corp now owns 564,004 shares of the company's stock valued at $603,000 after purchasing an additional 41,137 shares during the period. Geode Capital Management LLC increased its holdings in FiscalNote by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,576,432 shares of the company's stock valued at $1,687,000 after acquiring an additional 25,501 shares during the last quarter. Mariner LLC increased its holdings in FiscalNote by 85.3% in the 4th quarter. Mariner LLC now owns 35,662 shares of the company's stock valued at $38,000 after acquiring an additional 16,418 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in FiscalNote by 26.9% in the 1st quarter. Bank of New York Mellon Corp now owns 143,153 shares of the company's stock valued at $116,000 after acquiring an additional 30,362 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in FiscalNote in the 4th quarter valued at $87,000. 54.31% of the stock is currently owned by institutional investors.

About FiscalNote

FiscalNote Holdings, Inc operates as technology company North America, Europe, Australia, and Asia. It combines artificial intelligence technology, machine learning, and other technologies with analytics, workflow tools, and expert research. The company also delivers that intelligence through its suite of public policy and issues management products, as well as powerful tools to manage workflows, advocacy campaigns, and constituent relationships.

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