BMO Capital Cuts Price Target on TubeMogul (TUBE) to $8 Following 3Q Report
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BMO Capital maintained a Market Perform rating on TubeMogul, Inc (NASDAQ: TUBE), and cut the price target to $8.00 (from $10.00), following the company's 3Q earnings report. Revenue of $56.1mm was above the Street’s $54.5mm estimates and adjusted EBITDA of ($0.3)mm was ahead of the Street’s ($3.6)mm. Total spend for 2016 was increased to $562mm-$564mm from $558-$562mm, revenue increased to $220mm-$222mm from $217-221mm.
Analyst Daniel Salmon commented, "After last quarter's first "miss and lower" since coming public, TUBE got back to "beat and raise" in 3Q16. The dynamics of growth continue to change, however, as desktop declined again (and accelerated in fact), but non-desktop pre-roll revenue continues to accelerate ahead of expectations to more than offset. Still, we maintain a Market Perform rating as the desktop decline is blunting further potential upside driven by cross-screen and it lowers the chances of revenue beats, even as the mix of business continues to improve and profitability begins to scale."
Shares of TubeMogul, Inc closed at $7.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!