Oppenheimer Lowers MarketWise (NASDAQ:MKTW) Price Target to $5.00

MarketWise (NASDAQ:MKTWGet Rating) had its target price reduced by Oppenheimer from $10.00 to $5.00 in a research note published on Tuesday, The Fly reports.

A number of other analysts have also recently commented on the company. Needham & Company LLC dropped their price objective on MarketWise from $11.00 to $7.00 and set a buy rating for the company in a research report on Friday, March 11th. Wedbush cut MarketWise from an outperform rating to a neutral rating and lowered their price target for the company from $11.00 to $6.00 in a report on Friday, March 11th. JMP Securities lowered their price target on MarketWise from $14.00 to $13.00 and set a market outperform rating for the company in a report on Thursday, April 7th. UBS Group lowered their price target on MarketWise from $13.00 to $8.00 and set a buy rating for the company in a report on Monday, March 14th. Finally, Zacks Investment Research cut MarketWise from a buy rating to a hold rating in a report on Wednesday, January 12th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $7.97.

MarketWise stock opened at $2.62 on Tuesday. The stock has a 50-day moving average price of $4.17 and a 200 day moving average price of $5.63. MarketWise has a 52 week low of $2.28 and a 52 week high of $16.97.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of MarketWise in the 3rd quarter valued at about $43,000. Wolverine Asset Management LLC acquired a new position in shares of MarketWise in the 3rd quarter valued at about $45,000. UBS Group AG acquired a new position in shares of MarketWise in the 3rd quarter valued at about $72,000. Renaissance Technologies LLC acquired a new position in shares of MarketWise in the 4th quarter valued at about $88,000. Finally, CIBC Asset Management Inc acquired a new position in MarketWise during the 4th quarter worth approximately $125,000. 65.75% of the stock is currently owned by institutional investors and hedge funds.

About MarketWise (Get Rating)

MarketWise, Inc operates a multi-brand platform of subscription businesses that provides financial research, software, education, and tools for investors in the United States and Internationally. The company offers a portfolio of independent investment research, as well as various software and analytical tools on a subscription basis.

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