RBC Capital Starts HireRight Inc. (HRT) at Outperform
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RBC Capital analyst Ashish Sabadra initiates coverage on HireRight Inc. (NYSE: HRT) with a Outperform rating and a price target of $21.00.
The analyst comments "Single, unified global technology platform integrated with Applicant Tracking Systems, industry-specific proprietary databases, and 250+ products portfolio and an online platform to serve self-service market create a competitive advantage. Focus on growth verticals, enterprise clientele, market leadership, and global presence bode well to gain share in a highly fragmented market. As a result, the company should deliver high-single-digit organic revenue growth. Separately, automation and process improvement should help drive solid margin expansion of ~800bps over the next 3 years. Accordingly, we initiate with a $21 PT and Outperform rating."
Shares of HireRight Inc. closed at $18.13 yesterday.
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