MarketWise (NASDAQ:MKTW) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of MarketWise (NASDAQ:MKTW) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “MarketWise LLC provide multi-brand digital subscription services platform. It offers premium financial research, software, education and tools for self-directed investors. MarketWise LLC, formerly known as Ascendant Digital Acquisition Corp., is based in NEW YORK. “

A number of other research analysts have also recently commented on the company. Raymond James lowered their price target on MarketWise from $15.00 to $11.00 and set an outperform rating on the stock in a report on Friday, November 12th. Oppenheimer decreased their price objective on MarketWise from $19.00 to $15.00 and set an outperform rating on the stock in a report on Friday, November 12th. Finally, Needham & Company LLC started coverage on MarketWise in a report on Friday, September 17th. They set a buy rating and a $13.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, MarketWise currently has a consensus rating of Buy and an average target price of $13.25.

NASDAQ MKTW opened at $5.95 on Wednesday. The stock’s 50 day moving average is $6.89 and its 200 day moving average is $8.31. MarketWise has a 12 month low of $5.56 and a 12 month high of $16.97.

Large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC purchased a new stake in MarketWise during the 3rd quarter valued at $43,000. Wolverine Asset Management LLC bought a new position in MarketWise in the 3rd quarter valued at $45,000. UBS Group AG bought a new position in MarketWise in the 3rd quarter valued at $72,000. Millennium Management LLC bought a new position in MarketWise in the 3rd quarter valued at $141,000. Finally, Cohanzick Management LLC bought a new position in MarketWise in the 3rd quarter valued at $190,000. Institutional investors own 3.70% of the company’s stock.

MarketWise Company Profile

Ascendant Digital Acquisition Corp. does not have significant operations. It focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2020 and is based in New York, New York.

See Also: Equal Weight Rating

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Analyst Recommendations for MarketWise (NASDAQ:MKTW)

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