UPDATE: Needham & Company Starts AdTheorent Holding Company Inc (ADTH) at Buy
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Needham & Company analyst Laura Martin initiates coverage on AdTheorent Holding Company Inc (NASDAQ: ADTH) with a Buy rating and a price target of $10.00.
The analyst comments "We initiate coverage of AdTheorent (ADTH) at a Buy rating and $10 Price Target. ADTH competes in the AdTech ecosystem as a demand side platform (DSP). ADTH benefits from 3 key trends: 1) Its revenue is 100% performance-based, and we believe that all advertising will be outcome-oriented over time; 2) Machine learning improves enterprise performance and 100% of ADTH’s revenue comes from proprietary AI-based algorithms; and 3) consumer privacy regulations are spreading globally, but none of ADTH’s ad targeting uses personal identifiers or Cookies. By implication, AdTech's TAM is moving towards ADTH’s products. Finally, the most valuable type of tech talent today is AI engineers (our view), making ADTH the most likely AdTech company to be purchased by a larger company (in any industry) that must use AI to grow (or survive)."
Shares of AdTheorent Holding Company Inc closed at $5.46 yesterday.
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