Needham & Company LLC Reiterates “Buy” Rating for Stagwell (NASDAQ:STGW)

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They currently have a $7.50 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 16.64% from the stock’s current price.

A number of other research firms also recently weighed in on STGW. Benchmark reissued a “buy” rating and set a $8.50 target price on shares of Stagwell in a report on Wednesday, August 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $8.00 price target on shares of Stagwell in a research note on Monday, August 5th. Finally, The Goldman Sachs Group began coverage on Stagwell in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stagwell currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Stagwell Price Performance

NASDAQ:STGW opened at $6.43 on Monday. Stagwell has a 1-year low of $3.83 and a 1-year high of $7.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. The firm has a fifty day simple moving average of $6.97 and a 200 day simple moving average of $6.72. The stock has a market capitalization of $1.73 billion, a PE ratio of -214.33 and a beta of 1.34.

Stagwell (NASDAQ:STGW) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. The company had revenue of $671.20 million for the quarter, compared to the consensus estimate of $666.61 million. During the same period last year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that Stagwell will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Creative Planning raised its stake in Stagwell by 88.9% during the third quarter. Creative Planning now owns 40,074 shares of the company’s stock worth $281,000 after acquiring an additional 18,863 shares in the last quarter. SG Americas Securities LLC acquired a new position in Stagwell during the third quarter worth about $153,000. Quarry LP acquired a new position in Stagwell during the second quarter worth about $29,000. Lighthouse Investment Partners LLC bought a new stake in shares of Stagwell during the second quarter worth about $2,316,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Stagwell by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock worth $243,000 after purchasing an additional 4,961 shares during the last quarter. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Company Profile

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.