Canaccord Genuity Reiterates Buy Recommendation on KIT digital (NASDAQ:KITD) - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, March 22, 2012 - Following recent financial results
from KIT digital (NASDAQ:KITD), Investment firm Canaccord Genuity reiterates its
buy recommendation. Analyst Jeff Rath continues to give the company a buy rating
and a $20 price target, more than double today's price of $8.20.
InvestmentPitch.com has produced a "video news alert" about KIT digital based on
this report. If this link is not enabled, please visit www.InvestmentPitch.com
and enter "KIT" in the search box.
KIT digital is a premium provider of end-to-end video management software and
related services. The company's cloud-based video platform enables companies to
produce, manage and deliver multi-screen socially-enabled videos to a worldwide
audience.
The company services nearly 2,500 clients in 50+ countries including some of the
world's biggest brands, such as Disney-ABC, MTV, and News Corp. KIT digital
estimates approximately 69% of the fourth quarter revenues of $70 million were
related to video platform fees.
The company added more than 25 net new client contracts during the quarter, with
estimated average monthly revenue per client in excess of $35,000. Company
management puts the addressable global market at $10 to 15 billion.
Canaccord believes the company is well-positioned to benefit from accelerating
global video trends, and the clean financial results remain a near-term catalyst
for shares to outperform. Canaccord's $20 target price is based on a 10.5 times
multiple of their operating income estimate for 2012.
For more information about KIT Digital, please visit the company's website,
www.kitd.com, or call Murray Arenson, VP of investor relations and corporate
communications at 646-553-4900, or email murray(at)kitd.com.
For a copy of Canaccord Genuity's research, contact your nearest Canaccord
Genuity office. Their branches are listed on their website at www.canaccord.com.
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Datum: 22.03.2012 - 21:52 Uhr
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