UPDATE: Macquarie Upgrades ironSource Ltd. (IS) to Outperform

(Updated - December 7, 2021 8:20 AM EST)

Macquarie analyst Tim Nollen upgraded ironSource Ltd. (NYSE: IS) from Neutral to Outperform with a price target of $14.00.

The analyst comments "IS stock is down -36% vs S&P 500 -1% since reporting a strong Q3 beat and raise. Q4 guidance implies 62% revenue growth for the full year, and adj. EBITDA margin expansion of nearly 400bps. While this marks a sequential slowdown in top-line growth to 33%, this is on a tough comp vs. 4Q’20. ETF selling and macro worries over rising interest rates may help explain the stock decline, but we can’t see other fundamental reasons for the stock’s swoon since results. Hence we upgrade IS shares from Neutral to Outperform and reiterate our $14 price target."

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 $7.97 yesterday.

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