Thryv Holdings (THRY – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Scott Berg from Needham reiterated a Buy rating on the stock and has a $28.00 price target.
Scott Berg has given his Buy rating due to a combination of factors influencing Thryv Holdings. Despite a slight dip in organic SaaS revenue growth in the fourth quarter, largely attributed to seasonal trends, Thryv demonstrated resilience by adding 3,000 new customers, with an additional 15,000 coming from Keap. This growth in customer base indicates a strong market presence and potential for future expansion.
Moreover, Thryv’s strategic focus on multi-product usage has resulted in an increase in average revenue per user (ARPU) quarter over quarter, suggesting a reversal of the previous downward trend. The company’s adjusted EBITDA performance exceeded expectations, driven by sustained migrations in their Marketing Services. Furthermore, the fiscal year 2025 guidance appears conservative, with the potential for Keap to drive additional growth, reinforcing the Buy rating as SaaS growth is expected to surpass the decline in Marketing Services by 2025.
Berg covers the Technology sector, focusing on stocks such as Salesforce, Five9, and SPS Commerce. According to TipRanks, Berg has an average return of -3.8% and a 44.09% success rate on recommended stocks.
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