Kubient price target lowered to $1.50 from $2.00 at Maxim

Maxim lowered the firm’s price target on Kubient to $1.50 from $2.00 but keeps a Buy rating on the shares. The company’s Q4 results reflect softness in the advertising market as its revenue and adjusted EBITDA were worse than expected, the analyst tells investors in a research note. The firm adds however that longer term, as Kubient expands its engineering team to support faster technology integrations and builds out its sales team to attract more demand-side customers to match the number of supply-side customers currently on the platform, its revenue should ramp and accelerate.