UPDATE: Oppenheimer Starts ironSource Ltd. (IS) at Outperform

(Updated - July 26, 2021 4:04 PM EDT)

Oppenheimer analyst Martin Yang initiates coverage on ironSource Ltd. (NYSE: IS) with a Outperform rating and a price target of $13.00.

The analyst comments "We initiate coverage on ironSource Ltd. with an Outperform rating and $13 PT. We believe ironSource is a market leader in a fast-growing market, run by a highly effective management team, and is well positioned to take share in its existing market and expand its addressable market longer term (>$40B). We believe its product offerings are unique to customers based on their performance, sophistication, and innovation. Moreover, existing customers tend to use more of ironSource's expanding offering of services over time, driving substantial organic growth longer term. With new financing raised from the SPAC process, ironSource is also positioned to accelerate adtech industry consolidation through M&A. Our target assumes 21x FY22E sales of $670M."

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 $8.80 yesterday.

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