Here Is Why Everyday Health (EVDY) Is A Strong Buy Now
Zacks Investment Research | Sep 01, 2016 10:26PM ET
On Sep 2, Zacks Investment Research raised Everyday Health Inc. (NYSE:EVDY) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
The upgrade was primarily driven by the company’s strong second-quarter 2016 results, which got the estimate revisions racing up. Everyday Health reported loss of 27 cents per share, which was narrower than the Zacks Consensus Estimate of a loss 33 cents.
Everyday Health provides digital health marketing and communications solutions, primarily to pharmaceutical companies. In the reported quarter, total revenues increased 5% to $57.7 million, primarily driven by 7% increase in advertising and sponsorship revenues.
Key Factors
Everyday Health benefited from improving consumer advertising business trends in the first half of 2016. More importantly, consumer pharmaceutical advertising experienced double-digit growth. The company anticipates the positive trend to continue for the rest of the year, which will definitely drive its top-line growth.
EVERYDAY HEALTH Price and Consensus
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