Digital Media Solutions (DMS) PT Raised to $16 at Canaccord Genuity

Canaccord Genuity analyst Maria Ripps raised the price target on Digital Media Solutions (NYSE: DMS) to $16.00 (from $15.00) while maintaining a Buy rating.

The analyst commented, "This morning DMS announced that the company completed an asset purchase from CrispResults, which brings on additional capabilities across Medicare and health insurance as well as other insurance verticals including auto and life. In conjunction with the acquisition, DMS also updated its full-year 2021 guidance to incorporate both Crisp Results and the Aimtell/PushPros/Aramis acquisition (announced and closed earlier this year). The company also announced preliminary Q1 results that were stronger than our estimates on the revenue side with somewhat softer profitability, given a brief disruption due to winter storms in Texas during Q1. We view these recent acquisitions as additive and constructive towards DMS' strategy to become one of the leading digital marketing platforms, and this selective strengthening of key verticals should support continued strong growth for the business."

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