Brokerages Expect MarketWise, Inc. (NASDAQ:MKTW) to Announce $0.07 EPS

Wall Street analysts predict that MarketWise, Inc. (NASDAQ:MKTWGet Rating) will post earnings of $0.07 per share for the current quarter, Zacks reports. Three analysts have provided estimates for MarketWise’s earnings, with estimates ranging from $0.06 to $0.07. MarketWise posted earnings of ($14.94) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 100.5%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that MarketWise will report full year earnings of $0.25 per share for the current fiscal year, with EPS estimates ranging from $0.20 to $0.30. For the next fiscal year, analysts forecast that the firm will post earnings of $0.33 per share, with EPS estimates ranging from $0.27 to $0.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow MarketWise.

MKTW has been the subject of a number of research reports. UBS Group reduced their price objective on MarketWise from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 14th. Zacks Investment Research lowered MarketWise from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Oppenheimer cut their target price on MarketWise from $10.00 to $5.00 in a report on Tuesday, May 10th. Raymond James lowered MarketWise from an “outperform” rating to a “market perform” rating in a report on Friday, March 25th. Finally, JMP Securities cut their target price on MarketWise from $14.00 to $13.00 and set a “market outperform” rating on the stock in a report on Thursday, April 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, MarketWise presently has a consensus rating of “Buy” and an average target price of $7.97.

In related news, major shareholder Frank Porter Stansberry acquired 31,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The stock was purchased at an average price of $2.51 per share, for a total transaction of $77,810.00. Following the transaction, the insider now directly owns 239,388 shares of the company’s stock, valued at approximately $600,863.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc acquired a new position in MarketWise in the 4th quarter worth $125,000. Geode Capital Management LLC acquired a new position in shares of MarketWise during the 3rd quarter worth about $1,606,000. Penserra Capital Management LLC acquired a new position in shares of MarketWise during the 3rd quarter worth about $43,000. Westchester Capital Management LLC acquired a new position in shares of MarketWise during the 3rd quarter worth about $778,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of MarketWise during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 65.75% of the company’s stock.

Shares of MarketWise stock traded up $0.09 during midday trading on Thursday, hitting $2.94. The company’s stock had a trading volume of 87,732 shares, compared to its average volume of 198,154. The stock has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $5.36. MarketWise has a 1-year low of $2.28 and a 1-year high of $16.97.

MarketWise Company Profile (Get Rating)

MarketWise, Inc operates a multi-brand platform of subscription businesses that provides financial research, software, education, and tools for investors in the United States and Internationally. The company offers a portfolio of independent investment research, as well as various software and analytical tools on a subscription basis.

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