William Blair downgrades Thryv on ‘challenging growth dynamics’

William Blair analyst Arjun Bhatia downgraded Thryv Holdings (THRY) to Market Perform from Outperform without a price target The firm cites the “challenging growth dynamics” in the company’s software-as-a-service business that emerged last quarter for the downgrade. Thryv is entering a transition period for the next several quarters as it builds its self-serve customer acquisition motion, the analyst tells investors in a research note. Blair now sees limited near-term visibility into the company’s growth dynamics.