Oppenheimer Reiterates Outperform on TubeMogul (TUBE) Following 1Q

Oppenheimer maintained an Outperform rating and $18.00 price target on TubeMogul, Inc (NASDAQ: TUBE) following the company's 1Q earnings report.

Analyst Jason Helfstein commented, "We are maintaining our Outperform rating and $18 price target following an in-line 1Q and management raising FY16 guidance. Platform-Direct (PD) spending accelerated to +65% y/y in 1Q vs. 4Q's +56%, causing gross profit to come in 4% above Street estimates. While the company did show a sequential acceleration in sales and marketing relative to gross profit, we believe this was driven by seasonality, along with investments in Paid-TV (PTV), and the FB partnership, two early-stage initiatives which should drive revenue and spend long term. We believe TUBE should address LT opex leverage, FCF dynamics and new client metrics during next Thursday's Investor Day. TUBE remains well-positioned to leverage consumer video viewing habits shifting online, with upside from PTV/OTT products."

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

Shares of TubeMogul, Inc closed at $12.89 yesterday.

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Diana Shipping drops bid for Genco after price demands spike to $36.91
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'