Raymond James analyst Brian Peterson downgraded UserTesting to Market Perform from Strong Buy without a price target, citing the company’s pending acquisition by Thoma Bravo and SunStone Partners for $7.50 a share. The analyst thinks the 5x revenue multiple on the takeout represents a fair value for the company, and doesn’t see a potentially higher bid emerging, Peterson tells investors in a research note.
Published first on TheFly
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