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UserTesting downgraded to Neutral from Overweight at Piper Sandler
The Fly

UserTesting downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Brent Bracelin downgraded UserTesting to Neutral from Overweight with an unchanged price target of $7.50. The "go shop" clause lapsed on December 10 with no signs of a strategic bidder surfacing at this time, Bracelin tells investors in a research note. The analyst sees the proposed combination of UserTesting and UserZoom as part of the Thoma Bravo and Sunstone Partners $7.50 per share buyout offer as a "compelling opportunity to expand the scale and reach of the nascent video feedback and analysis market."

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