UPDATE: Truist Securities Starts HireRight Inc. (HRT) at Hold

November 23, 2021 6:19 AM EST
Get Alerts HRT Hot Sheet
Price: $19.26 +0.84%

Rating Summary:
    8 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 11 | New: 61
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(Updated - November 23, 2021 7:08 AM EST)

Truist Securities analyst Andrew Jeffrey initiates coverage on HireRight Inc. (NYSE: HRT) with a Hold rating, PT $20.00.

The analyst comments "We like HireRight's position in the evolving global Employment Background Screening market, a $5b+ TAM, projected to grow at a 9% CAGR through C26. We see the co benefiting from a leading tech platform, proprietary data, a focus on fast growing vertical markets/gig economy, compliance specialization and accelerating product innovation. Our Hold reflects a view that multiple expansion will be constrained by decelerating organic revenue growth in a normalizing post-COVID economy, risk that accelerated hiring demands ironically squeeze background check providers, belowpeer EBITDA margin and above-peer leverage. We argue HireRight's position on our Info Services Embeddedness Pyramid merits a relative discount "

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

Shares of HireRight Inc. closed at $18.13 yesterday.


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