MNTV - Momentive Global stock gains; Craig-Hallum upgrades to Buy after earnings

Momentive Global (NASDAQ:MNTV) stock gained as much as 9.6% on Thursday after the experience management firm posted Q1 results that were largely in-line with Street estimates. Craig-Hallum upgraded MNTV to Buy from Hold, with a price target of $18.5 (implying a potential 29.1% upside to its last close). Wall Street analysts on average rated MNTV Buy, with an average PT of $20.5. Meanwhile, SA Quant rating on MNTV is Hold. MNTV reported Q1 GAAP EPS of -$0.25 vs. -$0.20 in Q1 2021, while revenue grew 14.4% Y/Y to $116.99M. Sales-assisted channel revenue was $41.2M, up 32% Y/Y. Self-serve channel revenue was $75.8M, up 7% Y/Y, while deferred revenue was $216.2M, up 15% Y/Y. ARPU was ~$535, up 7% from ~$498 in Q1 2021. MNTV expects Q2 revenue of $120M-$122M vs. consensus estimate of $121.46M. 2022 revenue is projected to be $494M-$500M vs. consensus estimate of $498.31M. MNTV stock declined 29.4% YTD.

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Momentive Global stock gains; Craig-Hallum upgrades to Buy after earnings