Vivint Smart Home (NYSE:VVNT) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Vivint Smart Home (NYSE:VVNT) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Vivint Smart Home Inc. is a smart home company primarily in North America. It delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care and monitoring. Vivint Smart Home Inc., formerly known as Mosaic Acquisition Corp., is based in Provo, United States. “

Separately, Morgan Stanley upped their price objective on Vivint Smart Home from $13.00 to $14.00 and gave the stock an equal weight rating in a research note on Wednesday, August 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $21.00.

Shares of NYSE VVNT opened at $10.27 on Tuesday. The stock has a market cap of $2.14 billion, a P/E ratio of -4.48 and a beta of 0.62. The firm has a 50-day moving average of $12.03 and a 200 day moving average of $13.03. Vivint Smart Home has a 1 year low of $9.95 and a 1 year high of $25.10.

Vivint Smart Home (NYSE:VVNT) last released its quarterly earnings data on Tuesday, August 3rd. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.06. The business had revenue of $355.23 million for the quarter, compared to analysts’ expectations of $342.70 million. On average, research analysts anticipate that Vivint Smart Home will post -1.44 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in Vivint Smart Home by 68.9% in the first quarter. Envestnet Asset Management Inc. now owns 19,294 shares of the company’s stock valued at $276,000 after acquiring an additional 7,870 shares during the period. Alliancebernstein L.P. increased its position in shares of Vivint Smart Home by 216.5% during the first quarter. Alliancebernstein L.P. now owns 297,840 shares of the company’s stock worth $4,265,000 after purchasing an additional 203,740 shares in the last quarter. Fifth Third Bancorp grew its holdings in Vivint Smart Home by 70.2% in the 1st quarter. Fifth Third Bancorp now owns 20,553 shares of the company’s stock valued at $294,000 after buying an additional 8,477 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Vivint Smart Home in the 1st quarter valued at $29,000. Finally, IndexIQ Advisors LLC purchased a new position in shares of Vivint Smart Home during the 1st quarter worth $423,000. 79.68% of the stock is owned by hedge funds and other institutional investors.

About Vivint Smart Home

Vivint Smart Home, Inc, together with its subsidiaries, engages in the sale, installation, servicing, and monitoring of smart home and security systems primarily in the United States and Canada. The company's smart home platform includes cloud-enabled smart home operating systems; Vivint Assist, an AI-driven smart home automation and assistance software; software-enabled smart home devices; and tech-enabled services to educate, manage, and support the smart home.

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