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Needham Remains a Buy on MarketWise (MKTW)

Needham analyst Kyle Peterson reiterated a Buy rating on MarketWise (MKTWResearch Report) today and set a price target of $3.00. The company’s shares opened today at $1.88.

Peterson covers the Technology sector, focusing on stocks such as MarketWise, Loyalty Ventures Inc, and Fair Isaac. According to TipRanks, Peterson has an average return of -22.0% and a 25.42% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MarketWise with a $5.17 average price target, which is a 175.00% upside from current levels. In a report released today, JMP Securities also reiterated a Buy rating on the stock with a $8.50 price target.

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Based on MarketWise’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $128.01 million and a net profit of $11.88 million. In comparison, last year the company earned a revenue of $142.13 million and had a GAAP net loss of $7.9 million

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MKTW in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ascendant Digital Acquisition Corp is a blank check company.

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