William Blair analyst Arjun Bhatia has maintained their bullish stance on THRY stock, giving a Buy rating today.
Arjun Bhatia has given his Buy rating due to a combination of factors that highlight Thryv Holdings’ strong performance and potential for growth. The company’s software segment has shown impressive organic growth of 24% this quarter, driven by successful cross-selling strategies and platform expansion. This growth is further supported by an increase in the net revenue retention rate to a record high of 103%, indicating strong customer retention and upselling opportunities.
Despite a minor reduction in full-year software revenue guidance, which was adjusted out of caution rather than due to adverse market conditions, Thryv’s customer base in nondiscretionary markets like home and personal services positions it well to withstand economic fluctuations. Bhatia believes that the current market reaction to the guidance adjustment is excessive and sees the current stock price as an attractive buying opportunity. As the software business continues to grow as a larger part of the company’s portfolio, there is potential for a positive revaluation of the stock.
In another report released today, Needham also maintained a Buy rating on the stock with a $20.00 price target.