Outbrain resumed with a Neutral at B. Riley

B. Riley resumed coverage of Outbrain with a Neutral rating and $4.50 price target. Outbrain is best known for powering the content recommendation viewable feed on its network of open Web publishers, but the weaker demand from a softer advertising environment, coupled with excess supply for new publisher deals, has weighed on its core business, the analyst tells investors. Though the valuation is “inexpensive,” the firm remains on the sidelines amid some near-term supply headwinds and potential geopolitical uncertainty.