Analyst Michael Pachter of Wedbush maintained a Buy rating on Getty Images Holdings (GETY – Research Report), with a price target of $7.70.
Michael Pachter’s Buy rating for Getty Images Holdings is influenced by several factors. Firstly, despite the challenging macroeconomic environment and unexpected difficulties such as the Hollywood strikes, Getty has shown resilience and a steadfast focus on profitability. The company has managed to only slightly reduce its EBITDA guidance despite a significant drop in anticipated revenues. This is testament to the company’s effective cost management and profitability strategies.
Pachter also sees potential for growth in future demand, spurred by an anticipated economic recovery, the Summer Olympics, and the upcoming election cycle. Getty’s Q3 results, which showed revenues in line with consensus and a significant increase in subscription count, also lend confidence. A key factor is the expected increase in activity in Hollywood following the end of the strikes, which should boost Getty’s revenues. Furthermore, Pachter maintains his estimates for 2024 and 2025, indicating confidence in Getty’s future performance. These factors cumulatively contribute to Pachter’s positive outlook for Getty Images Holdings, warranting the Buy rating.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $5.50 price target.
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Based on the recent corporate insider activity of 116 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 GETY in relation to earlier this year.
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Getty Images Holdings (GETY) Company Description:
CC Neuberger Principal Holdings II is a blank check company.
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