Thryv (NASDAQ:THRY) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Thryv has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting a positive outlook for the company amidst various research reports.
• The company's earnings report showed a miss on EPS expectations, reporting $0.31 compared to the consensus estimate of $0.40, alongside a decline in revenue of 6.1% year-over-year.
• Insider trading activity includes CEO Joe Walsh acquiring 5,000 shares at $13.40, indicating confidence in the company as insiders hold 9.88% of shares.

Wall Street Zen upgraded shares of Thryv (NASDAQ:THRY - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other analysts have also commented on the stock. Needham & Company LLC reduced their price target on shares of Thryv from $28.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. B. Riley cut their price target on shares of Thryv from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada decreased their price target on shares of Thryv from $17.00 to $16.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.40.

Thryv Stock Up 6.6%

THRY traded up $0.80 during trading on Friday, hitting $12.93. 420,218 shares of the company's stock traded hands, compared to its average volume of 501,731. The stock has a market capitalization of $568.09 million, a price-to-earnings ratio of -5.46 and a beta of 0.94. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company's 50 day simple moving average is $12.73 and its two-hundred day simple moving average is $14.27. Thryv has a 12-month low of $10.02 and a 12-month high of $20.92.

Thryv (NASDAQ:THRY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.09). Thryv had a negative net margin of 11.06% and a negative return on equity of 47.96%. The business had revenue of $210.47 million during the quarter, compared to the consensus estimate of $203.87 million. During the same period last year, the company earned $0.15 EPS. The business's revenue was down 6.1% compared to the same quarter last year. Analysts predict that Thryv will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joe Walsh purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $13.40 per share, with a total value of $67,000.00. Following the completion of the purchase, the chief executive officer directly owned 586,043 shares in the company, valued at $7,852,976.20. This trade represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Thryv

A number of institutional investors and hedge funds have recently modified their holdings of the business. Paulson & CO. Inc. raised its position in Thryv by 114.0% in the fourth quarter. Paulson & CO. Inc. now owns 4,280,000 shares of the company's stock worth $63,344,000 after acquiring an additional 2,280,000 shares during the period. Vanguard Group Inc. increased its stake in Thryv by 22.5% in the 4th quarter. Vanguard Group Inc. now owns 2,983,416 shares of the company's stock worth $44,155,000 after purchasing an additional 548,864 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Thryv during the first quarter valued at approximately $30,209,000. Samjo Management LLC increased its stake in shares of Thryv by 7.7% during the fourth quarter. Samjo Management LLC now owns 2,249,345 shares of the company's stock valued at $33,290,000 after buying an additional 160,185 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Thryv by 0.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,111,892 shares of the company's stock worth $13,999,000 after purchasing an additional 2,957 shares in the last quarter. 96.38% of the stock is currently owned by institutional investors.

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.