Kyle Peterson, an analyst from Needham, reiterated the Buy rating on Dun & Bradstreet Holdings (DNB – Research Report). The associated price target is $18.00.
Kyle Peterson has given his Buy rating for Dun & Bradstreet Holdings Inc (DNB) due to a combination of factors. The company has continued to demonstrate robust performance, exceeding market expectations on both revenue and earnings. There has been a notable improvement in organic growth across both domestic and international markets, showing the success of its strategic growth initiatives. The most recent quarter saw a year-on-year organic revenue growth of 4.8%, the highest in recent history, which further solidifies the company’s growth prospects.
Additionally, Peterson maintains a positive outlook for the company as it continues to make progress towards its medium-term organic growth targets of 5-7%. The expectation is for an ongoing improvement in cash flow conversion, which should aid DNB in reducing its debt. The current trading shares at an enterprise value to fiscal year 2024 EBITDA multiple of approximately 7.5x are viewed as favorably risk-weighted given the company’s improving fundamentals. Therefore, reiterating a Buy rating was deemed appropriate, given the current circumstances.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $15.00 price target.
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Dun & Bradstreet Holdings (DNB) Company Description:
Dun & Bradstreet Holdings Inc is one of the leading providers of business decisioning data and analytics. The company provides commercial credit decisioning, which helps businesses to make informed decisions when considering extending business loans and trade credit. Also, the company offers solutions to firms looking to analyze supplier relationships and more effectively collect outstanding receivables. Other services provided by company include digital marketing, sales acceleration, and risk management among others.
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