Equities research analysts predict that MarketWise, Inc. (NASDAQ:MKTW – Get Rating) will report sales of $135.26 million for the current quarter, according to Zacks. Three analysts have made estimates for MarketWise’s earnings, with the highest sales estimate coming in at $138.00 million and the lowest estimate coming in at $133.00 million. MarketWise reported sales of $142.13 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The firm is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that MarketWise will report full year sales of $549.64 million for the current year, with estimates ranging from $542.93 million to $554.00 million. For the next financial year, analysts expect that the business will post sales of $608.45 million, with estimates ranging from $590.00 million to $627.36 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover MarketWise.
MKTW has been the subject of a number of research analyst reports. Needham & Company LLC cut their target price on shares of MarketWise from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 11th. JMP Securities cut their target price on shares of MarketWise from $14.00 to $13.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Wedbush downgraded shares of MarketWise from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $6.00 in a research report on Friday, March 11th. Raymond James downgraded shares of MarketWise from an “outperform” rating to a “market perform” rating in a research report on Friday, March 25th. Finally, UBS Group cut their price objective on shares of MarketWise from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.97.
In other news, major shareholder Frank Porter Stansberry bought 31,000 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were bought at an average price of $2.51 per share, for a total transaction of $77,810.00. Following the purchase, the insider now owns 239,388 shares in the company, valued at $600,863.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in shares of MarketWise in the 3rd quarter worth about $8,980,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of MarketWise in the 3rd quarter worth about $8,397,000. Polar Asset Management Partners Inc. bought a new stake in shares of MarketWise in the 3rd quarter worth about $8,260,000. Vanguard Group Inc. increased its holdings in shares of MarketWise by 87.8% in the 1st quarter. Vanguard Group Inc. now owns 1,511,211 shares of the newsletter publisher’s stock worth $7,133,000 after buying an additional 706,607 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of MarketWise in the 1st quarter worth about $1,893,000. Institutional investors and hedge funds own 65.75% of the company’s stock.
About MarketWise (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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