William Blair Has Market Perform Rating On The Knot (KNOT)
William Blair is increasing its earnings estimates on The Knot (NASDAQ: KNOT) after the company reported a mixed second quarter. It rates shares at Market Perform.
In a note to clients, William Blair writes, "We are modestly increasing our revenue estimate to reflect stronger-than-expected registry and national online revenues, as well as stronger contribution from the two additional national wedding issues, offset by lower expectations for local and merchandising. Our full-year revenue estimate increases from $112.5 million to $113.0 million. However, due to higher marketing and China-related expenses that we expect to continue in at least the near term, and in conjunction with a higher expected tax rate, we are lowering our EPS estimate from $0.11 to $0.07. A table outlining our estimate adjustments follows at the end of this note."
Shares of The Knot are up 6 cents to $7.65 in early Monday trade.
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