The Goldman Sachs Group Cuts Vacasa (NASDAQ:VCSA) Price Target to $6.50

Vacasa (NASDAQ:VCSA) had its price objective dropped by The Goldman Sachs Group from $7.50 to $6.50 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 171.97% from the stock’s previous close.

Separately, Needham & Company LLC lowered their price objective on shares of Vacasa from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Vacasa Stock Down 2.4 %

Vacasa stock opened at $2.39 on Friday. The stock has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $4.23. The company has a market capitalization of $53.97 million, a P/E ratio of -0.08 and a beta of 0.57. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.80 and a current ratio of 0.80. Vacasa has a fifty-two week low of $2.07 and a fifty-two week high of $13.00.

Vacasa (NASDAQ:VCSA) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.94) by $1.35. The company had revenue of $248.98 million during the quarter, compared to analysts’ expectations of $259.41 million. Vacasa had a positive return on equity of 174.62% and a negative net margin of 36.09%. During the same quarter in the previous year, the business earned ($0.20) earnings per share. Equities research analysts expect that Vacasa will post -2.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of VCSA. Rhumbline Advisers acquired a new stake in shares of Vacasa during the second quarter worth $50,000. Bank of New York Mellon Corp purchased a new position in Vacasa during the 2nd quarter worth $124,000. Harrell Investment Partners LLC acquired a new stake in shares of Vacasa in the 2nd quarter worth $218,000. National Bank of Canada FI boosted its holdings in shares of Vacasa by 23.1% in the second quarter. National Bank of Canada FI now owns 60,683 shares of the company’s stock valued at $296,000 after acquiring an additional 11,378 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Vacasa by 41.5% during the second quarter. Renaissance Technologies LLC now owns 66,454 shares of the company’s stock worth $324,000 after acquiring an additional 19,500 shares during the period. Institutional investors and hedge funds own 82.48% of the company’s stock.

About Vacasa

Vacasa, Inc operates vacation rental management platform in North America, Belize, and Costa Rica. The company enables guests to search, discover, and book its properties on Vacasa.com and its Guest App. Vacasa, Inc was founded in 2009 and is headquartered in Portland, Oregon.