JMP Securities Downgrades WageWorks (WAGE) to Market Perform

September 13, 2018 4:02 AM EDT
Get Alerts WAGE Hot Sheet
Price: $51.34 --0%

Rating Summary:
    2 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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JMP Securities analyst David Scharf downgraded WageWorks (NYSE: WAGE) from Market Outperform to Market Perform.

The analyst comments "We are not comfortable with a valuation range over 10-11x EV/EBITDA until we obtain additional clarity on the revenue growth trajectory over the next few years. Yesterday’s closing price of $49.10 is a 13.7x multiple of enterprise value to 2018 EBITDA guidance at the midpoint, and our neutral bias outlook takes into account the expected sell-off in the shares today (we have not yet adjusted our model to reflect the new guidance)."

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

Shares of WageWorks closed at $49.10 yesterday.

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