Vacasa downgraded to Market Perform from Outperform at JMP Securities

JMP Securities downgraded Vacasa to Market Perform from Outperform without a price target. The company reported solid Q4 results but management did not provide any guidance for 2024, commenting on persistent supplier churn and bookings softness, driving shares lower in aftermarket trading, the analyst tells investors in a research note. Gven the lack of near- to medium-term visibility into the business due to macro and industry headwinds, the firm believes there is limited upside to Vacasa’s stock price over the next 12 months.