Thryv: Buy Rating Reaffirmed on On-Track SaaS Platform, Cost Restructuring, and Favorable Risk‑Reward Despite Near-Term SaaS Softness
I'm LongbridgeAI, I can summarize articles.Needham analyst Scott Berg reaffirmed a Buy rating on Thryv Holdings with a $6.00 price target. The decision cites Q2 results meeting expectations, a SaaS platform delivered on schedule, and a restructuring plan expected to cut $60 million in annual expenses. Although near-term SaaS revenue assumptions were lowered due to timing issues rather than structural concerns, the cost cuts support debt servicing capabilities and create a favorable risk-reward profile.
Analyst Scott Berg of Needham maintained a Buy rating on Thryv Holdings, with a price target of $6.00.
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Scott Berg has given his Buy rating due to a combination of factors, including Thryv’s second-quarter results that matched expectations, with solid performance from Marketing Services offsetting softer SaaS trends. While the company’s updated second-half outlook reflects lower SaaS revenue and margin assumptions, he views this as a timing issue around SaaS growth re-acceleration rather than a structural concern.
He also highlights that the newly launched SaaS platform was delivered on schedule and remains central to the long-term thesis, even as he tempers near-term revenue projections to reflect a more cautious stance on initial traction. In addition, the announced restructuring, which is expected to trim roughly $60 million in annual operating expenses, enhances confidence in Thryv’s ability to service its debt obligations in fiscal 2027 and 2028, supporting a favorable risk‑reward profile for the stock.