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Bear of the Day: Thryv Holdings, Inc. (THRY)

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Thryv Holdings, Inc. (THRY) is a firm that’s focused on connecting buyers with sellers. The stock is up significantly since its direct listing on the Nasdaq in the fall of 2020, but its outlook appears tough.

What’s going On?

Thryv Holdings, once known as Dex Media, is a restructured marketing services provider. The company’s flagship offering, Thryv, is an “end-to-end customer experience software built for growing small to medium sized businesses that helps over 40,000 SaaS clients with the daily demands of running a business.”

Thryv’s portfolio also includes Superpages.com, DexKnows.com, Yellowpages.com, and many others that connect businesses with customers. The company aims to be a leader in local search and it tries to make “sure customers can find all the business information they need to make a purchase decision, wherever they are looking.”

The compny faces tough business conditions and a quickly-changing digital landscape, and many smaller firms have struggled during the coronavirus. THRY reported its Q4 and fiscal 2020 results on March 25. The firm’s SaaS revenue popped 8% in the fourth quarter, but its overall revenue fell.

Meanwhile, if full-year 2020 sales fell from $1.42 billion to $1.11 billion. And Zacks estimates call for its FY21 revenue to slip another 21%, with its fiscal 2022 sales projected to dip 17% lower. At the bottom end, its adjusted earnings are projected to sink 32% this year.

Bottom Line

Thryv’s recent earnings revisions activity helps it land a Zacks Rank #5 (Strong Sell), alongside its “F” grade for Momentum in our Style Scores system. The company’s industry also rests in the bottom 25% of our over 250 Zacks industries right now.

The thinly-traded stock fell over 5% during regular trading hours Monday to $23.27 a share. In the end, investors might want to avoid the stock at the moment, while also keeping their eye on THRY for possible opportunities down the road.

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