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

Thryv (NASDAQ:THRY) had its price target lowered by analysts at Royal Bank Of Canada from $3.00 to $2.00 in a report issued on Wednesday, Benzinga reports. The firm 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 current price.

Several other equities analysts also recently weighed in on the company. Wall Street Zen downgraded Thryv from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Needham & Company LLC reissued a “buy” rating on shares of Thryv in a research note on Tuesday, August 4th. Finally, Weiss Ratings cut Thryv from a “sell (d)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.25.

Thryv Trading Down 2.0%

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

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

Insiders Place Their Bets

In related news, CEO Joe Walsh purchased 25,000 shares of the business’s stock in a transaction on Friday, September 18th. The shares were bought at an average price of $1.80 per share, with a total value of $45,000.00. Following the completion of the purchase, the chief executive officer directly owned 788,099 shares in the company, valued at approximately $1,418,578.20. This trade represents a 3.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thryv

A number of hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its holdings in shares of Thryv by 53.4% during the 1st quarter. Meeder Asset Management Inc. now owns 15,008 shares of the company’s stock worth $41,000 after buying an additional 5,226 shares during the last quarter. State of Wyoming boosted its holdings in Thryv by 18.8% in the first quarter. State of Wyoming now owns 46,712 shares of the company’s stock valued at $128,000 after acquiring an additional 7,395 shares during the last quarter. Empowered Funds LLC boosted its holdings in Thryv by 6.7% in the first quarter. Empowered Funds LLC now owns 159,493 shares of the company’s stock valued at $437,000 after acquiring an additional 10,015 shares during the last quarter. Amundi grew its position in Thryv by 54.9% during the first quarter. Amundi now owns 30,644 shares of the company’s stock valued at $84,000 after acquiring an additional 10,860 shares during the period. Finally, DGS Capital Management LLC purchased a new stake in Thryv during the first quarter valued at about $31,000. Institutional investors and hedge funds own 96.38% of the company’s stock.

About Thryv

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.