In a report released today, Mark Hyatt from Morgan Stanley upgraded Trustpilot Group Plc to a Buy, with a price target of p275.00.
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Mark Hyatt’s rating is based on Trustpilot’s strong performance in recent years, particularly in the US market, where it has revamped its approach and accelerated growth. Despite the impressive returns in 2023 and 2024, Hyatt acknowledges that the stock’s potential for further outperformance in 2025 may be limited due to its valuation aligning more closely with peers.
Trustpilot’s unique dual-sided model, which combines a free consumer review platform with a freemium SaaS offering for businesses, creates significant network effects. This model not only enhances consumer engagement but also strengthens business adoption, leading to sustained revenue growth. Trustpilot’s strategic position in the under-penetrated $18 billion global market, coupled with its unmatched scale, brand recognition, and data depth, supports Hyatt’s optimistic outlook for continued growth.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TRST in relation to earlier this year.