Oppenheimer Cuts MarketWise (NASDAQ:MKTW) Price Target to $5.00

MarketWise (NASDAQ:MKTWGet Rating) had its price objective cut by stock analysts at Oppenheimer from $10.00 to $5.00 in a research note issued on Tuesday, The Fly reports. Oppenheimer’s target price would indicate a potential upside of 74.22% from the company’s current price.

Other equities research analysts have also issued reports about the stock. JMP Securities reduced their price objective on shares of MarketWise from $14.00 to $13.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 7th. Needham & Company LLC reduced their price objective on shares of MarketWise from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Zacks Investment Research lowered shares of MarketWise from a “buy” rating to a “hold” rating in a research note on Wednesday, January 12th. Wedbush lowered shares of MarketWise from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $11.00 to $6.00 in a research note on Friday, March 11th. Finally, Raymond James lowered shares of MarketWise from an “outperform” rating to a “market perform” rating in a research note on Friday, March 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $8.56.

MKTW opened at $2.87 on Tuesday. The company’s 50 day moving average price is $4.40 and its two-hundred day moving average price is $5.77. MarketWise has a fifty-two week low of $2.81 and a fifty-two week high of $16.97.

Several hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC raised its holdings in shares of MarketWise by 44.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,468,900 shares of the newsletter publisher’s stock valued at $11,076,000 after purchasing an additional 452,300 shares during the last quarter. Point72 Asset Management L.P. bought a new position in MarketWise during the third quarter valued at about $8,980,000. Polar Asset Management Partners Inc. bought a new position in MarketWise during the third quarter valued at about $8,260,000. Divisadero Street Capital Management LP bought a new position in MarketWise during the fourth quarter valued at about $3,290,000. Finally, Bank of New York Mellon Corp bought a new position in MarketWise during the third quarter valued at about $3,473,000. Institutional investors own 65.75% of the company’s stock.

MarketWise Company Profile (Get Rating)

MarketWise, Inc operates a multi-brand platform of subscription businesses that provides financial research, software, education, and tools for investors in the United States and Internationally. The company offers a portfolio of independent investment research, as well as various software and analytical tools on a subscription basis.

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