Piper Jaffray Cuts Price Target on YuMe (YUME) to $3; Reiterates Neutral
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Piper Jaffray maintained a Neutral rating on YuMe, Inc. (NYSE: YUME), and cut the price target to $3.00 (from $4.00), following the company's 2Q earnings report. YuMe reported Q2 revenue of $40.7 million, 1% below of the Street's $41.2 million. Q2 EBITDA was $2.3 million vs the Street's $0.9 million.
Analyst Gene Munster commented, "YuMe, following the trend of another of other adtech companies, had a disappointing Q2. The company missed Q2 revenue by 1% and guided Q3 down 3% at the midpoint, breaking a streak of a few solid quarters in a row. While the company maintained its programmatic guidance for 2016, the slight Q3 guide down suggests that the core business may be facing some slight headwinds. Investors are hyper-sensitive to adtech stories that show hiccups. While the company has shown a strong ability to drive profit, we believe growth is the core concern for investors and YuMe will need to start its efforts over in gaining investor trust. We maintain our Neutral rating and revise our target to $3 (from $4)."
Shares of YuMe, Inc. closed at $3.34 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Gene Munster, Earnings
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