David Hynes, an analyst from Canaccord Genuity, maintained the Buy rating on Kaltura (KLTR – Research Report). The associated price target is $4.00.
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David Hynes has given his Buy rating due to a combination of factors that suggest Kaltura is on a positive trajectory. The company has shown a solid performance this quarter with accelerated subscription revenue growth and an increased RPO backlog, indicating a favorable shift in business trends. Additionally, Kaltura’s EBITDA margins have improved significantly, and management’s strategic guidance suggests further enhancement in revenue growth and margins in the coming years.
Kaltura’s recent momentum can be attributed to overcoming past churn issues and benefiting from an improved market environment for video creation and content management. The company’s focus on consolidating point solutions, maturing new products, and leveraging Gen AI capabilities positions it well for growth. Furthermore, the potential to expand its installed base and the strategic scaling of its sales force add to the growth prospects. These factors, combined with the goal to become a Rule of 30 business by 2028, support the Buy rating as Kaltura appears to be on stable footing and offers attractive value for investors.
Hynes covers the Technology sector, focusing on stocks such as ServiceNow, Atlassian, and Workday. According to TipRanks, Hynes has an average return of 9.3% and a 54.93% success rate on recommended stocks.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $4.00 price target.