Digital Media Solutions price target lowered to $1.50 from $2.00 at Canaccord

Canaccord analyst Maria Ripps lowered the firm’s price target on Digital Media Solutions to $1.50 from $2.00 and keeps a Buy rating on the shares. The firm said they reported soft Q2 results, with revenue and adjusted EBITDA both coming in well below expectations as both businesses continue to be impacted by unprecedented headwinds in the P&C vertical, with carrier loss ratios remaining well above historical norms and overall advertiser spend down meaningfully.