Vacasa, Inc. (VCSA) PT Lowered to $5 at Needham

Needham analyst Bernie McTernan lowered the price target on Vacasa, Inc. (NASDAQ: VCSA) to $5.00 (from $8.00) while maintaining a Buy rating.

The analyst commented: "We maintain our Buy rating and lower our price target to $5. While VCSA reported Q2 results ahead of expectations we are reducing our estimates overall in '24E and '25E given the continued macro and micro challenges facing the company. 2Q revenue was in line, but Adjusted EBITDA of $2M beat consensus of -$6M, driven by cost savings. With the announced cost cuts last quarter, the company also shifted its corporate structure to more localized teams and is starting to see benefits, although the roll out is still in the early days. Supply continues to fall, on the backdrop of market supply growing, including ABNB growing supply 16% globally."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Stripe, Advent In Talks To Buy Paypal - WSJ
• Home Depot (HD) call put ratio 1.5 calls to 1 put with a focus on September 330 puts into quarter results