Outbrain price target lowered to $4.10 from $4.70 at Citi

Citi lowered the firm’s price target on Outbrain to $4.10 from $4.70 and keeps a Neutral rating on the shares. The company’s Q4 results were in line to ahead of estimates but the fiscal 2024 outlook was mixed as management ramps investments to drive double-digit growth and 20% adjusted EBITDA margins in fiscal 2025, the analyst tells investors in a research note. The firm believes the philosophy behind Outbrain’s growth pillars to expand the scope of its business beyond its core in-feed publisher inventory is the right one.