Needham analyst Scott Berg maintained a Buy rating on Thryv Holdings today and set a price target of $20.00.
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Scott Berg has given his Buy rating due to a combination of factors that highlight Thryv Holdings’ promising financial trajectory. The company successfully navigated a critical leverage point in the second quarter, which is expected to lead to a reduction in leverage and lower debt servicing costs, thereby freeing up cash for strategic investments. This financial flexibility is seen as a positive indicator of future growth.
Additionally, Thryv’s SaaS business is showing strong expansion, with multi-product adoption and new vertical opportunities that are likely to enhance average revenue per user (ARPU) and net revenue retention (NRR) trends. Although the contribution from Keap was slightly below expectations, it is anticipated to rebound in the fourth quarter, supporting a more optimistic outlook for the company’s SaaS revenue. These factors collectively underpin the Buy rating, reflecting confidence in Thryv’s potential for sustained growth and profitability.