Needham & Company is Bullish Following MaxPoint Interactive (MXPT) Q1 Results

Needham & Company maintain a Buy rating and price target of $12.00 on MaxPoint Interactive (NYSE: MXPT) following Q1. MXPT reported gross revenue of $28.7M, which came above expectations of $24.4M. Adjusted EBITDA of ($5.2M) was also better than consensus of ($7..7M).

Needham & Company analyst, Kerry Rice, commented on MXPT, saying, "MaxPoint's Q1 and FY15 guidance exceeded expectations. We continue to believe that MXPT’s Intelligence Platform (MIPs) uniquely addresses the challenges national advertisers face in executing local advertising campaigns across multiple products and cities at distinct locations with different retailers at various times and frequencies. We view MXPT's proprietary Digital Zips and search-based technology as key differentiators that are used to identify purchase interest and target areas for campaigns. MXPT’s Digital Zips also enable the creation and execution of scalable and cost-effective campaigns that are rapidly optimized with its closed loop measurement. MIPs has been widely adopted by brand advertisers, a trend we expect to continue as local advertising budgets shift to digital channels."

Rice also added, "The company provided 2Q15 revenue ex-TAC guidance of $21.2-22.6M and adjusted EBITDA of ($3.6)-(3.0M). For full year, the company is guiding revenue ex-TAC to be $91.5-93.0M and adjusted EBITDA of ($15.5)-(14.5M). We are raising our full year revenue ex-TAC estimate to $92.4M from $89.9M and our adjusted EBITDA estimate to ($15.0M) from ($17.7M)."

For an analyst ratings summary and ratings history on MaxPoint Interactive click here. For more ratings news on MaxPoint Interactive click here.

Shares of MaxPoint Interactive closed at $8.46 yesterday.

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