Outbrain Inc (OB) PT Lowered to $7 at Needham & Company

July 1, 2022 7:33 AM EDT
Get Alerts OB Hot Sheet
Price: $4.96 -6.77%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 18 | New: 52
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Needham & Company analyst Laura Martin lowered the price target on Outbrain Inc (NASDAQ: OB) to $7.00 (from $10.00) while maintaining a Buy rating.

The analyst commented, "On i's 1Q22 earnings call, OB lowered guidance to FY22 net revs of $270mm-$290mm and Adj EBITDA to $50mm-$60mm, and 2Q22 net revs to $59-$62mm and Adj EBITDA to $4-6mm. Based on channel checks, including conversations with other AdTech companies, we lower slightly our OB rev estimates for 2Q22 and FY22 by about $2-$3mm each. We also lower our FY23 estimate."

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