B. Riley Issues Optimistic Estimate for FiscalNote Earnings

FiscalNote Holdings, Inc. (NYSE:NOTE) – Investment analysts at B. Riley increased their FY2024 earnings estimates for shares of FiscalNote in a report released on Wednesday, November 13th. B. Riley analyst Z. Cummins now expects that the company will earn ($0.42) per share for the year, up from their prior forecast of ($0.43). B. Riley has a “Buy” rating and a $1.75 price objective on the stock. The consensus estimate for FiscalNote’s current full-year earnings is ($0.43) per share. B. Riley also issued estimates for FiscalNote’s Q4 2024 earnings at ($0.10) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.42) EPS.

Several other brokerages have also weighed in on NOTE. EF Hutton Acquisition Co. I raised FiscalNote to a “strong-buy” rating in a research report on Monday, October 28th. Northland Securities lowered their price target on FiscalNote from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, DA Davidson cut their price objective on shares of FiscalNote from $1.35 to $1.05 and set a “neutral” rating on the stock in a research report on Friday, August 9th.

FiscalNote Trading Down 1.3 %

NYSE NOTE opened at $0.79 on Monday. The company has a market capitalization of $110.19 million, a PE ratio of -3.64 and a beta of 0.49. FiscalNote has a 1-year low of $0.75 and a 1-year high of $2.27. The company has a current ratio of 0.81, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44. The firm’s fifty day simple moving average is $1.10 and its 200-day simple moving average is $1.33.

Hedge Funds Weigh In On FiscalNote

A number of institutional investors have recently modified their holdings of NOTE. Vanguard Group Inc. grew its stake in FiscalNote by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,157,496 shares of the company’s stock valued at $5,529,000 after buying an additional 12,853 shares during the last quarter. State Street Corp boosted its holdings in FiscalNote by 1.4% during the third quarter. State Street Corp now owns 1,261,429 shares of the company’s stock valued at $1,615,000 after acquiring an additional 17,624 shares during the period. AQR Capital Management LLC acquired a new stake in shares of FiscalNote in the second quarter valued at about $26,000. Charles Schwab Investment Management Inc. increased its stake in shares of FiscalNote by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 566,144 shares of the company’s stock worth $725,000 after purchasing an additional 21,811 shares during the period. Finally, Natixis acquired a new position in shares of FiscalNote during the 1st quarter worth about $40,000. Institutional investors own 54.31% of the company’s stock.

Insiders Place Their Bets

In other FiscalNote news, CEO Tim Hwang sold 64,211 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.27, for a total transaction of $81,547.97. Following the completion of the sale, the chief executive officer now owns 2,541,513 shares of the company’s stock, valued at $3,227,721.51. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 125,149 shares of company stock valued at $154,823 over the last three months. 47.59% of the stock is currently owned by insiders.

FiscalNote Company Profile

FiscalNote Holdings, Inc operates as technology company North America, Europe, Australia, and Asia. It combines artificial intelligence technology, machine learning, and other technologies with analytics, workflow tools, and expert research. The company also delivers that intelligence through its suite of public policy and issues management products, as well as powerful tools to manage workflows, advocacy campaigns, and constituent relationships.