Stagwell (NASDAQ:STGW) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Stagwell (NASDAQ:STGW) in a research report released on Monday morning, Benzinga reports. The firm currently has a $7.50 price objective on the stock.

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

Stagwell Trading Down 3.8 %

Shares of STGW stock opened at $6.60 on Monday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -220.00 and a beta of 1.34. 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 50-day moving average price of $6.97 and a 200 day moving average price of $6.71. Stagwell has a twelve month low of $3.83 and a twelve month high of $7.50.

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

Institutional Investors Weigh In On Stagwell

A number of institutional investors have recently added to or reduced their stakes in STGW. Vanguard Group Inc. grew its holdings in shares of Stagwell by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock worth $36,306,000 after purchasing an additional 452,874 shares during the period. Dimensional Fund Advisors LP grew its stake in Stagwell by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after buying an additional 127,099 shares during the period. First Pacific Advisors LP increased its position in shares of Stagwell by 1.8% in the second quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock worth $6,779,000 after acquiring an additional 18,050 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Stagwell by 11.3% in the 1st quarter. Foundry Partners LLC now owns 911,170 shares of the company’s stock valued at $5,667,000 after acquiring an additional 92,154 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Stagwell by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 556,430 shares of the company’s stock valued at $3,795,000 after acquiring an additional 406,031 shares in the last quarter. 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.