Stagwell (NASDAQ:STGW) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $7.50 price target on the stock.

Several other research analysts have also weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $8.00 target price on shares of Stagwell in a research report on Monday, August 5th. Benchmark reiterated a “buy” rating and issued a $8.50 price target on shares of Stagwell in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Stagwell in a research report on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.10.

Stagwell Trading Down 2.8 %

Shares of STGW opened at $6.25 on Monday. 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’s 50-day moving average is $6.97 and its two-hundred day moving average is $6.71. Stagwell has a twelve month low of $3.83 and a twelve month high of $7.50. The firm has a market capitalization of $1.68 billion, a P/E ratio of -208.33 and a beta of 1.34.

Stagwell (NASDAQ:STGW) last issued its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $666.61 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that Stagwell will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stagwell

Several institutional investors and hedge funds have recently modified their holdings of STGW. Swiss National Bank lifted its stake in shares of Stagwell by 3.8% during the first quarter. Swiss National Bank now owns 178,600 shares of the company’s stock valued at $1,111,000 after buying an additional 6,500 shares during the period. Foundry Partners LLC lifted its stake in shares of Stagwell by 11.3% during the first quarter. Foundry Partners LLC now owns 911,170 shares of the company’s stock valued at $5,667,000 after buying an additional 92,154 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Stagwell by 6.2% during the first quarter. Pacific Ridge Capital Partners LLC now owns 294,957 shares of the company’s stock valued at $1,835,000 after buying an additional 17,153 shares during the period. Vanguard Group Inc. lifted its stake in shares of Stagwell by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock valued at $36,306,000 after buying an additional 452,874 shares during the period. Finally, Huber Capital Management LLC purchased a new position in Stagwell during the first quarter worth approximately $1,410,000. Hedge funds and other institutional investors own 35.61% of the company’s stock.

About Stagwell

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.