Morgan Stanley Starts Cvent (CVT) at Equalweight (earlier)

Morgan Stanley analyst Josh Baer initiates coverage on Cvent (NASDAQ: CVT) with a Equalweight rating and a price target of $5.50.

The analyst comments "Near-term, Cvent benefits from an expanded TAM (virtual & hybrid events) and reopening tailwinds as in-person events return post-covid; longer-term, Cvent is aligned to digitization trends in the event mgmt space. With weakening macro and increasing competition, the opportunity looks priced-in. EW."

For an analyst ratings summary and ratings history on Cvent click here. For more ratings news on Cvent click here.

Shares of Cvent closed at $4.79 yesterday.

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