BMO’s Thanos Moschopoulos raised his Thinkific Labs Inc. (THNC-T) target to $18 from $17, remaining below the $20.01 average, with an “outperform” rating.
“We remain Outperform on THNC and have made minor changes to our model following Q2/21 results, which were in line on revenue and revenue guidance,” he said. “Management expressed a hint of caution regarding the potential near-term uncertainty associated with the re-opening (which contributed to a quarter-over-quarter deceleration in customer adds and GMV, offset by better-than-expected ARPU). We continue to view the stock’s valuation as attractive relative to our forecasts for growth, particularly with Payments now poised to ramp.”