AdTheorent price target raised to $4 from $3 at JMP Securities

JMP Securities analyst Andrew Boone raised the firm’s price target on AdTheorent to $4 from $3 and keeps an Outperform rating on the shares. AdTheorent reported strong Q4 results, with revenue 6% above consensus and EBITDA $2M above the high end of guidance, and while AdTheorent experienced a slow start to the year in January and guidance implies acceleration throughout the year, the firm sees multiple growth catalysts in 2024 across self-service, AdTheorent Health, Predictive Audiences, and CTV, the analyst tells investors in a research note.