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WAGE

Bought by HQY

$39.59

1.875 (4.97%)

08:21
03/19/19
03/19
08:21
03/19/19
08:21

WageWorks consensus estimates were 'overly optimistic,' says Stifel

Stifel analyst David Grossman said he "would not read much into" the afterhours pullback in WageWorks shares after the company released its backdated Form 10Q's and updated guidance, stating that he believes consensus estimates were overly optimistic and noting that the stock had run up more than 35% into the call. WageWorks guided to flat 2018 revenue and EBITDA being flat to down 2%, which Grossman said is slightly below previous guidance, but largely in-line with expectations. The company's 2019 revenue guidance of flat to up 3% was in line with consensus, though its view of EBITDA flat to down 15% was below consensus, noted the analyst. Grossman believes the stock is at an attractive entry point now that estimates have been reset and he keeps a Buy rating and $44 price target on WageWorks shares.

  • 19

    Mar

WAGE Bought by HQY
$39.59

1.875 (4.97%)

01/28/19
RHCO
01/28/19
NO CHANGE
Target $50
RHCO
Buy
WageWorks price target lowered to $50 from $56 at SunTrust
SunTrust analyst Tobey Sommer lowered his price target on WageWorks to $50, saying the company may incur additional expenses and that its new sales may be impacted by its accounting related issues. The analyst also lowers his FY19 revenue forecast to $490M from $504M and EBITDA view to $145M from $170M. Longer term, Sommer keeps his Buy rating on WageWorks, citing its potential for accelerating organic growth and based on its "highly scalable, predictable and growing business" model.
03/08/19
WELS
03/08/19
UPGRADE
WELS
Outperform
WageWorks upgraded to Outperform from Market Perform at Wells Fargo
03/08/19
WELS
03/08/19
UPGRADE
Target $45
WELS
Outperform
WageWorks upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jamie Stockton upgraded WageWorks to Outperform from Market Perform with a $45 price target. In a research note to investors, Stockton says he believes WageWorks will get its financials restated reasonably soon, and this restatement should not materially affect estimates. With the stock trading for under 7x 2019E EV/EBITDA vs. historical comps, Stockton says the risk/reward over the next 12 months seems favorable.
03/08/19
03/08/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Horizon Pharma (HZNP) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger citing the stock's 6% slide on March 5 due to its disclosure of the receipt of a civil investigative demand from the DOJ, noting that management responded by conveying high confidence in the company's legal compliance. 2. SeaWorld (SEAS) upgraded to Outperform from Neutral at Macquarie. 3. Buckeye Partners (BPL) upgraded to Buy from Neutral at UBS with analyst Shneur Gershuni saying after reviewing the company's annual report, the analyst sees better leverage metrics for Buckeye relative to what he previously thought. 4. WageWorks (WAGE) upgraded to Outperform from Market Perform at Wells Fargo with analyst Jamie Stockton saying he believes WageWorks will get its financials restated reasonably soon, and this restatement should not materially affect estimates. 5. BCE (BCE) upgraded to Buy from Hold at Argus with analyst John Eade citing the company's position as the largest communications entity in Canada and his expectations of consistent income for investors. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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