System1 extends gains as analyst ups PT after rosy forecast
06/04/2022 14:46
** Shares of digital marketing co SST.N rise 2% at $20.71
in early trading, set to extend gains after co issued a rosy
outlook
** D.A. Davidson analyst Tom Forte raises his PT on stock to
$26 from $23 on Wednesday, saying he was "encouraged by the
company's operating results in the quarter"
** SST's performance was consistent with the brokerage's
prior view that SST was not materially affected by Apple's
AAPL.O focus on privacy, which had a negative impact on many
digital advertisers in the quarter, most notably Facebook
FB.O , Forte says
** SST closed 23% higher on Tuesday after a 20% increase in
FY22 revenue from a year ago and a 37% jump in adj. EBITDA
urn:newsml:reuters.com:*:nL3N2W31JW
** Stock set to rise for the fourth session in row, up 140%
since going public via SPAC in January
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))