Benchmark lowered the firm’s price target on Getty Images to $7 from $8 and keeps a Buy rating on the shares. Though Getty’s Q3 topline was relatively in-line, Q4 guidance missed the firm’s expectations “materially,” says the analyst. Based on current visibility, Getty expects strike-related headwinds to begin to subside in Q1, with full dissipation in Q2, and the firm is “cautiously optimistic” Agency weakness will trough in Q4 with modest improvement beginning in Q1, the analyst tells investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on GETY:
- Getty Images lowers FY23 revenue view to $900M-$910M from $920M-$935M
- Getty Images reports Q3 EPS (5c), consensus 4c
- Getty Images Reports Third Quarter 2023 Results
- GETY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Getty Images and Verizon Shift the Lens on Disability Representation with $20,000 Creative Grant