Fintel reports that on July 26, 2023, B. Riley Securities initiated coverage of FiscalNote Holdings Inc - (NYSE:NOTE) with a Buy recommendation.
Analyst Price Forecast Suggests 88.95% Upside
As of July 6, 2023, the average one-year price target for FiscalNote Holdings Inc - is 6.27. The forecasts range from a low of 2.02 to a high of $9.45. The average price target represents an increase of 88.95% from its latest reported closing price of 3.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for FiscalNote Holdings Inc - is 138MM, an increase of 16.17%. The projected annual non-GAAP EPS is -0.50.
What is the Fund Sentiment?
There are 62 funds or institutions reporting positions in FiscalNote Holdings Inc -. This is an increase of 21 owner(s) or 51.22% in the last quarter. Average portfolio weight of all funds dedicated to NOTE is 0.87%, an increase of 17.31%. Total shares owned by institutions increased in the last three months by 7.36% to 47,039K shares. 
The put/call ratio of NOTE is 0.04, indicating a bullish outlook.
What are Other Shareholders Doing?
Maso Capital Partners holds 28,914K shares representing 21.59% ownership of the company. No change in the last quarter.
Stonehill Capital Management holds 5,823K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 7,704K shares, representing a decrease of 32.30%. The firm decreased its portfolio allocation in NOTE by 63.54% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,641K shares representing 1.97% ownership of the company.
Brown Advisory holds 1,151K shares representing 0.86% ownership of the company.
Comprehensive Financial Management holds 1,011K shares representing 0.75% ownership of the company. No change in the last quarter.
FiscalNote Holdings Background Information
(This description is provided by the company.)
Duddell Street Acquisition Corp. was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Although the Company's efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on global companies in telecom, media and technology, healthcare, fintech and consumer sectors with compelling Asian growth potential.
Additional reading:
- EXCHANGE AND SETTLEMENT AGREEMENT
- joinder and AMENDMENT NO. 2 to SECOND AMENDED AND RESTATED CREDIT and GUARANTY agreement
- FiscalNote Announces First Quarter 2023 Financial Results with 21% Revenue Growth Year-over-Year Reiterates its 2023 Guidance and Expectations to be Profitable in the Fourth Quarter of 2023 on an Adjusted EBITDA Basis
- Exhibit 10.16 to Post-Effective Amendment No. 1 to the Registration Statement on Form S-1 filed with the SEC on May 5, 2023 (File No. 333-267098).
- Exhibit 10.17 to Post-Effective Amendment No. 1 to the Registration Statement on Form S-1 filed with the SEC on May 5, 2023 (File No. 333-267098).
This story originally appeared on Fintel.
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