Goldman Sachs analyst George Tong has maintained their neutral stance on DNB stock, giving a Hold rating on November 1.
George Tong has given his Hold rating due to a combination of factors that indicate a deceleration in growth in the fourth quarter for Dun & Bradstreet Holdings. The company demonstrated significant progress in its transformation to accelerate organic revenue growth from low-single-digits to mid-single-digits over the medium-term. This growth increased from 3.9% year on year in the second quarter to 4.8% in the third quarter, showcasing the company’s effective traction with new product innovation, technology investments, migration to the cloud and improved go-to-market strategy. Furthermore, the firm’s revenue outlook has been strengthened, partly due to the absence of General Services Administration contract headwinds in North America Finance & Risk.
However, the company’s updated guidance suggests a slowdown in organic revenue growth in the fourth quarter, partly due to variability in delivery timing and usage of products. Moreover, Tong anticipates headwinds from the Federal Trade Commission consent order on legacy Credibility solutions, which could impact small and medium business customer renewals in North America Finance & Risk through 2024. As a result, Tong maintains a Neutral, or Hold, rating on Dun & Bradstreet Holdings.
In another report released on November 1, RBC Capital also assigned a Hold rating to the stock with a $15.00 price target.
See today’s best-performing stocks on TipRanks >>
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DNB in relation to earlier this year.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
Read More on DNB:
