YuMe (YUME) Offers More Upside Following Solid Q3 - Needham & Company

November 14, 2013 12:03 PM EST
Get Alerts YUME Hot Sheet
Price: $3.57 -1.38%

Rating Summary:
    1 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Shares of YuMe, Inc. (NYSE: YUME) are surging nearly 29% Thursday following better than expected Q3 results. However, analyst Kerry Rice at Needham & Company views shares as still undervalued.

Rice reiterated a Buy rating and $13 price target following the numbers. "YuMe reported solid top and bottom line upside, which supports our thesis that the company's technology platform is a competitive advantage by providing the ability to serve video brand advertising to audiences at scale across a multitude of screens and devices," he said. "Moreover, YuMe's platform is programmatic-ready, which should complement its strong direct selling business as programmatic trends strengthen. Looking ahead, we believe YuMe is well positioned to benefit from the shift of TV advertising dollars toward digital video advertising, regardless of channel."

The firm raised FY 2013 EPS from $0.01 to $0.14 and FY 2014 EPS from $0.20 to $0.25.

For an analyst ratings summary and ratings history on YuMe, Inc. click here. For more ratings news on YuMe, Inc. click here.

Shares of YuMe, Inc. closed at $6.40 yesterday.

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