Tigress Financial Partners Starts ironSource Ltd. (IS) at Buy

Tigress Financial Partners analyst Ivan Feinseth initiates coverage on ironSource Ltd. (NYSE: IS) with a Buy rating and a price target of $16.00.

The analyst commented, "We are initiating research coverage on ironSource (IS-US) with a Buy rating, and a 12-month target price of $16 as its robust mobile app and content development platform provides investors the opportunity to participate in the rapidly growing global mobile economy. ironSource continues to experience strong customer adoption in its two key constituencies of the global App Economy, including application developers that use and are supported by its Sonic publishing-as-a-service solution and Aura for telecom service providers and OEM device manufacturers. ironSource recently reported record Q2 results with revenue increasing 83% Y/Y to $135 million driven by ongoing platform enhancements and increased platform engagement by both existing and new customers. ironSource is well-positioned to benefit from both the growing use of mobile devices and increased user engagement. ironSource will continue to drive growth through increasing customer penetration and new customer adoption through ongoing investments in R&D, new product development, and enhancements creating new features and driving further client and market penetration. The global market for mobile applications and games is estimated to be $90 billion-$100 billion in 2021 and is growing significantly driven by the ongoing proliferation of mobile devices and increased user engagement. ironSource’s ongoing investment in R&D and new product development, creating new features, and increased marketing efforts will drive significant customer growth, increasing market penetration, and significant revenue growth. ironSource’s intellectual capital-intensive and highly scalable business model will continue to drive accelerating Business Performance trends, including increasing Economic Cash Flow, increasing Return on Capital, and eventually significant gains in Economic Profit and long-term shareholder value creation. We believe significant upside in the shares exists, and our 12-month target price of $16 represents a potential return of over 45% from current levels."

For an analyst ratings summary and ratings history on ironSource Ltd. click here. For more ratings news on ironSource Ltd. click here.

Shares of ironSource Ltd. closed at $11.31 yesterday.

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