B. Riley analyst Mike Crawford lowered the firm’s price target on Enthusiast Gaming to C$3.75 from C$4.25 and keeps a Buy rating on the shares post the Q4 results. Programmatic advertising revenue negatively impacted results in the quarter, with CPMs soft due to macro headwinds and remaining weak into Q1, the analyst tells investors in a research note. However, Enthusiast remains focused on direct sales initiatives and continues to execute well on its business plan to scale this higher-margin revenue channel, says the firm.
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Published first on TheFly
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