Needham & Company LLC Has Lowered Expectations for Urgent.ly (NASDAQ:ULY) Stock Price

Urgent.ly (NASDAQ:ULY) had its price objective lowered by equities research analysts at Needham & Company LLC from $1.50 to $1.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 243.52% from the company’s previous close.

Urgent.ly Stock Down 4.2 %

Shares of NASDAQ:ULY opened at $0.29 on Friday. The firm has a market capitalization of $3.93 million, a PE ratio of 0.03 and a beta of 0.85. The company has a 50-day moving average price of $0.51 and a two-hundred day moving average price of $0.60. Urgent.ly has a twelve month low of $0.25 and a twelve month high of $3.31.

Urgent.ly shares are going to reverse split on Tuesday, March 18th. The 1-12 reverse split was announced on Thursday, March 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 17th.

Urgent.ly (NASDAQ:ULY) last issued its quarterly earnings data on Wednesday, March 12th. The company reported ($0.65) earnings per share (EPS) for the quarter. The company had revenue of $32.03 million during the quarter.

Institutional Investors Weigh In On Urgent.ly

A hedge fund recently bought a new stake in Urgent.ly stock. Toronto Dominion Bank purchased a new position in Urgent.ly Inc. (NASDAQ:ULY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 165,750 shares of the company’s stock, valued at approximately $85,000. Toronto Dominion Bank owned approximately 1.23% of Urgent.ly at the end of the most recent reporting period. Institutional investors own 28.30% of the company’s stock.

Urgent.ly Company Profile

Urgent.ly Inc offers mobility assistance software platform for roadside assistance in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its services include car lockout, tire changes, towing, stuck in ditch and winch services, motorcycle towing, electric vehicle towing, jump start, and gas delivery.