Software company ironSource Ltd. (IS) recently revealed that it has signed a definitive agreement to acquire Bidalgo, a marketing software company. The financial terms of the deal have been kept under wraps.
Following the news, shares of the company declined 1% on Monday. The stock, however, pared its losses slightly to close at $11.63 in the extended trading session.
Along with Luna Labs, the creative management solution arm of ironSource, the acquisition is likely to allow the company expand its marketing-focused products.
The CRO and Co-founder of ironSource, Omer Kaplan, said, “This acquisition is part of a wider strategy, which includes the acquisition of Luna Labs earlier this year, to build a full marketing stack within the ironSource platform. The combination will give app marketers an end-to-end solution for their entire marketing operation in one place, from creating ads through managing campaigns across channels and optimizing them.” (See ironSource stock chart on TipRanks)
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Recently, Wedbush analyst Michael Pachter reiterated a Buy rating on the stock with a price target of $14, which implies upside potential of 20.5% from current levels.
Consensus among analysts is a Strong Buy based on 8 Buys and 1 Hold. The average ironSource price target of $13 implies upside potential of 11.9% from current levels.
ironSource scores a 7 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations. Shares have gained about 5.6% over the past year.
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