Prospect Capital Corp
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Financials : Capital Markets | Small Cap Blend
Company profile

Prospect Capital Corporation is a financial services company that primarily lends to and invests in middle-market privately held companies. The Company's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated secured debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. It makes directly originated agented loans to companies, including companies which are controlled by private equity sponsors and companies that are not controlled by private equity sponsors. It also invests in senior and secured loans, syndicated loans and high yield bonds that have been sold to a club or syndicate of buyers, both in the primary and secondary markets. The Company is managed by its investment adviser, Prospect Capital Management L.P.

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DoorDash stock could thrive amid broader recovery but Lyft faces a tough winter, says analyst

8:20 am ET January 13, 2022 (MarketWatch)

By Emily Bary

Analyst upgrades DoorDash stock, moves Lyft to 'tactical underperform' list

DoorDash Inc. could be a lasting beneficiary of trends that emerged during the pandemic even as in-person activity rebounds.

That's the view of Evercore ISI analyst Mark Mahaney, who upgraded DoorDash (DASH) shares to outperform from in-line late Tuesday and dubbed the company a "structural COVID winner."

Mahaney is impressed by DoorDash's ability to continue posting growth even amid a broader recovery for the food-and-beverage category, and he's upbeat about the company's DashPass subscription service, which has amassed 9 million members. In general, those who pay for subscriptions to gig companies' services tend to be more frequent customers with bigger shopping carts.

The company's subscription success "should materially hedge any deceleration in industry growth and provide a sizable channel for cross-selling grocery, convenience, etc.," Mahaney said.

DoorDash has been expanding beyond food delivery into areas like grocery and convenience, and the company has made progress with its efforts thus far, according to Mahaney. And overall, he's "reasonably confident there's upside" to estimates for the fourth quarter of 2021 and first quarter of 2022.

Mahaney is less optimistic about fellow gig company Lyft Inc. (LYFT) While he continues to rate the ride-hailing stock at outperform, he added it to the "tactical underperform" list based on short-term dynamics.

"Our rationale is simple," he said, as rising COVID-19 cases could limit the potential for fourth-quarter upside. Lyft is "a pure-play mobility-only stock" and data-points around flight searches and subway ridership could portend "headwinds" for Lyft in the current quarter.

Lyft shares are off 3.6% Wednesday, while DoorDash shares are up 0.4%.

-Emily Bary


(END) Dow Jones Newswires

January 13, 2022 08:20 ET (13:20 GMT)

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