TheStreet, Inc. (NASDAQ:TST)
Shares of TheStreet, Inc. (NASDAQ:TST) gained over 33% after it announced that it has entered into a new four-year agreement with Jim Cramer, the company’s founder, financial markets commentator on CNBC. He will also continue to host events, author articles, and provide video content for the company’s subscription products and distribution channels.
Other news released today included a Q3 2017 earnings release that saw net income at $0.2 million, or $0.01 per share. Last year for the same period the company reported a net loss of (-$1.2) million, or (-$0.03) per share. Earnings met analyst expectations.
TheStreet, Inc. (NASDAQ:TST) is a global financial news and information provider to investors and institutions. The company’s flagship brand, TheStreet (www.thestreet.com), is in its third decade of producing business news and market analysis for individual investors. The Street’s portfolio of institutional brands includes The Deal (www.thedeal.com), which provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control; BoardEx (www.boardex.com), a relationship mapping service of corporate directors and officers; and RateWatch (www.rate-watch.com), which supplies rate and fee data from banks and credit unions across the U.S.
TheStreet Q3 Earnings
For the third quarter of 2017, the Company reported revenue of $15.3 million, and an Adjusted EBITDA(1) of $2.1 million. Q3 2017 net income reflects declines in cost of services, sales, and marketing and general and administrative expenses, partially offset by higher depreciation and amortization expense from infrastructure buildout during 2016 and year to date 2017.
David Callaway, President and CEO of TheStreet, Inc. (NASDAQ:TST) stated in the press release “This is the second consecutive quarter that we have had net income,”. “Our turnaround plan has taken hold. With the confidence of our newest investor, 180 Capital, and finalized contract negotiations with Jim Cramer, we are set for continued growth on the top and bottom line of the business.”
TheStreet, Inc. (NASDAQ:TST) stock has lagged behind the market for the year – returning only 2.5%. The large bunce in share price was due to, observers feel, the signing of Jim Cramer who has become a recognizable personality with broad reach among retail investors and market observers.
The lone analyst that covers TheStreet, Inc. (NASDAQ:TST) rates TST shares as a “Strong Buy” with a one-year target price of $2.05.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.