Outbrain assumed with a Hold at Jefferies

Jefferies analyst James Heaney assumed coverage of Outbrain with a Hold rating and $4 price target. The firm maintains a cautious stance on the shares, citing the implied acceleration in second half of 2024 revenue growth necessary to achieve the company’s 2024 guide. Outbrain’s preliminary fiscal 2024 outlook of double digit revenue growth and a 20% EBITDA margin may be difficult to achieve if the macro environment remains volatile, the analyst tells investors in a research note.