Comscore has renewed its agreement with TitanTV. Likewise, the trusted partner for planning transacting and media platforms evaluation will continue to use TitanTV’s MediaStar tool to aggregate television schedules.
The renewal follows TitanTV releasing new MediaStar tool features following users’ feedback. The upgraded tool should make it easier and enhance Comscore’s (SCOR)’s ability to measure television viewership from various devices across millions of users.
“Accurate and timely TV schedule data is foundational to Comscore’s linear TV products and to our clients successful use of our Local currency, and TitanTV has been a fantastic partner to Comscore, working with us and our clients to evolve their products to meet station demand,” said David Algranati, Chief Product Officer, Comscore.
Comscore has carved a niche for itself as a leader in television viewership measurement. Its evaluation of various media platforms has made it possible for TV stations, advertisers, and agencies to find and reach their desired audiences and maximize revenue generation.
Comscore shares are up 34% year to date after a 49% slide in 2020. (See Comscore stock analysis on TipRanks).
The company reported impressive 4Q 2020 results with revenue of $90 million in line with estimates and a 72% year-over-year increase in adjusted EBITDA at $9.4 million. The company projecting a 3% to 5% revenue growth and a 6% to 8% positive EBITDA margin caught the attention of Needham’s analyst Laura Martin.
The analyst has since reiterated a Buy rating on Comscore with a $6 price target implying 79.6% upside potential.
“We are optimistic about local TV measurement and addressable TV, which are growing, and it appears that the digital product downdraft from the old Comscore products has stabilized,” Martin said in a research note.
Wall Street’s consensus rating of Comscore stock is a Moderate Buy. One analyst rates it as a Buy and another Hold. The average analyst price target at $4.75 implies 42.22% upside potential to current levels.
SCOR scores 7 out of 10 on TipRanks’ Smart Score rating system, implying its performance could align with market averages.
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