What is B. Riley's Forecast for FiscalNote FY2024 Earnings?

FiscalNote Holdings, Inc. (NYSE:NOTE - Free Report) - Research analysts at B. Riley raised their FY2024 earnings per share estimates for FiscalNote in a note issued to investors on Wednesday, November 13th. B. Riley analyst Z. Cummins now expects that the company will earn ($0.42) per share for the year, up from their previous estimate of ($0.43). B. Riley has a "Buy" rating and a $1.75 price objective on the stock. The consensus estimate for FiscalNote's current full-year earnings is ($0.43) per share. B. Riley also issued estimates for FiscalNote's Q4 2024 earnings at ($0.10) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.42) EPS.

A number of other analysts have also issued reports on the stock. DA Davidson dropped their price objective on shares of FiscalNote from $1.35 to $1.05 and set a "neutral" rating on the stock in a research note on Friday, August 9th. Northland Securities dropped their price target on shares of FiscalNote from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Monday, August 12th. Finally, EF Hutton Acquisition Co. I upgraded shares of FiscalNote to a "strong-buy" rating in a report on Monday, October 28th.

FiscalNote Price Performance

NYSE:NOTE traded up $0.00 during trading hours on Monday, reaching $0.80. 633,249 shares of the company traded hands, compared to its average volume of 664,020. FiscalNote has a 1-year low of $0.75 and a 1-year high of $2.27. The stock has a market cap of $111.96 million, a P/E ratio of -3.64 and a beta of 0.49. The firm's 50-day moving average is $1.10 and its 200-day moving average is $1.33. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.81 and a quick ratio of 1.01.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of FiscalNote by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,157,496 shares of the company's stock worth $5,529,000 after buying an additional 12,853 shares in the last quarter. Natixis bought a new position in FiscalNote in the first quarter worth approximately $40,000. Marshall Wace LLP acquired a new stake in FiscalNote in the 2nd quarter valued at $608,000. Squarepoint Ops LLC increased its position in shares of FiscalNote by 181.9% during the second quarter. Squarepoint Ops LLC now owns 149,490 shares of the company's stock worth $218,000 after acquiring an additional 96,457 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in FiscalNote during the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 54.31% of the company's stock.

Insider Activity at FiscalNote

In other news, CEO Tim Hwang sold 64,211 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.27, for a total transaction of $81,547.97. Following the completion of the sale, the chief executive officer now owns 2,541,513 shares of the company's stock, valued at $3,227,721.51. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 125,149 shares of company stock worth $154,823 in the last quarter. Corporate insiders own 47.59% of the company's stock.

About FiscalNote

FiscalNote Holdings, Inc operates as technology company North America, Europe, Australia, and Asia. It combines artificial intelligence technology, machine learning, and other technologies with analytics, workflow tools, and expert research. The company also delivers that intelligence through its suite of public policy and issues management products, as well as powerful tools to manage workflows, advocacy campaigns, and constituent relationships.