Integral Ad Science Analysts Cut Their Forecasts Following Q4 Results

Author: Avi Kapoor | February 28, 2024 09:18am

Integral Ad Science Holding Corp. (NASDAQ:IAS) reported upbeat results for its fourth quarter on Tuesday.

Integral Ad Science posted GAAP earnings of 6 cents per share, beating market estimates of 4 cents per share. The company’s quarterly sales came in at $134.29 million versus expectations of $131.30 million, according to data from Benzinga Pro.

"We ended 2023 with strong fourth quarter performance across optimization and measurement with revenue growth of 16% and 18%, respectively," said Lisa Utzschneider, CEO of IAS. "Social media revenue increased 37% in the fourth quarter as marketers trusted IAS to maximize their advertising spend globally, particularly in short-form video. In 2024, we will continue to invest in data science and innovate with AI to empower marketers with actionable data to drive superior results. We expect to deliver double-digit revenue growth for the full year."

IAS said it sees first-quarter revenue of $111 million to $113 million, versus estimates of $119.7 million.

IAS shares gained 1.4% to close at $17.10 on Tuesday.

These analysts made changes to their price targets on Integral Ad Science after the company reported quarterly results.

• Raymond James cut the price target on Integral Ad Science from $ $20 to $16. Raymond James analyst Andrew Marok downgraded the stock from Strong Buy to Outperform.
• Oppenheimer lowered the price target on Integral Ad Science from $25 to $20. Oppenheimer analyst Jason Helfstein maintained an Outperform rating.

 

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Posted In: IAS