Altisource Announces Third Quarter 2024 Financial Results

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Go back to Altisource Announces Third Quarter 2024 Financial Results

B.Riley Starts Altisource Portfolio Solutions (ASPS) at Buy

October 28, 2024 6:20 AM EDT

B.Riley analyst Raj Sharma initiates coverage on Altisource Portfolio Solutions (NASDAQ: ASPS) with a Buy rating and a price target of $10.00.

The analyst comments "Buy-rated Altisource Portfolio Solutions (ASPS, $10 PT) reported 3Q results on 10/24 BMO with revs./adj. EBITDA of $40.5M/$3.6M, missing our ests/consensus of $48.4M/$5.3M. Total revs of $38.2M were higher Y/Y from $34.1M in 3Q23, with adj. EBITDA of $3.6M, up from $0.9M in 3Q23. Servicer & Real Estate revs of $30.4M were higher Y/Y from $26.9M in 3Q23 and higher seq. from $29.0M in... More