Mid Cap Losers: ABSI, PSFE, ZIP
3:46 pm Monday, August 16th, 2021
Absci Corp (NASDAQ: ABSI): The July IPO trades down to new lows after receiving ratings initiations from several firms, including a Neutral rating from BofA Securities, a Hold from Stifel, a Market Perform rating from Cowen, and an Outperform initiation at Credit Suisse. The stock fell 16%.
Paysafe Ltd (NYSE: PSFE) stock slid 15.50% after the company reported Q2 results, posting upside revs. Total Payment Volume increased +41% yr/yr in the quarter to $32.3 bln. Guided Q3 revs below consensus while reaffirming its FY21 outlook. Also announced that it has agreed to acquire SafetyPay, an eCommerce payments platform operating primarily in Latin America, for $441 mln in cash.
Ziprecruiter Inc (NYSE: ZIP): Continued volatility following co’s release last week of Q2 results, co’s first earnings report as a public company. Pulls back from Friday’s record highs. Job aggregator ZipRecruiter Inc. (NYSE: ZIP) reported second-quarter revenue rose 108.7% to a record level for the Santa Monica, California-based company. While the second quarter of last year was the most severe during the Covid-19 pandemic, ZipRecruiter noted that the macroeconomic recovery along with sales and marketing execution helped fuel growth this quarter.
