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Outbrain Inc. (NASDAQ:OB), a leading company in computer programming and data processing services with annual revenues of $890 million, announced the appointment of two new board members effective March 12, 2025. The company, which maintains a strong balance sheet with more cash than debt and a healthy current ratio of 1.19, is currently trading at $4.08 per share. According to InvestingPro analysis, Outbrain’s current market valuation suggests the stock is slightly overvalued based on its Fair Value assessment. Dexter Goei and Mark Mullen (NASDAQ:MULN), designated by Altice Teads S.A. ("AT") as per the Stockholders Agreement dated February 3, 2025, have joined the board as Class II directors with terms expiring at the company’s 2026 Annual Meeting of Stockholders.
Dexter Goei brings extensive experience in corporate strategy, operations, and finance, having served as the CEO of Altice USA (NYSE:ATUS) and as a director of Altice Europe. Mark Mullen, a seasoned investor with a focus on internet, media, and technology sectors, is also a Director and Audit Chair of Altice USA and co-founder and Managing Director of Bonfire Ventures. These appointments come at a crucial time, as Outbrain’s stock has experienced a 44% decline year-to-date, though analysts maintain optimistic targets with a consensus high of $10 per share.
The Board of Outbrain has confirmed that both Goei and Mullen meet the independence criteria as per the Nasdaq Listing Rule 5605(b)(1). Their compensation will align with the company’s standard for non-employee directors as detailed in the proxy statement filed on April 26, 2024. There are no disclosed transactions involving the company that would require reporting under Item 404(a) of Regulation S-K concerning the new directors.
The appointments come as part of Outbrain’s ongoing governance and oversight strengthening, with both individuals expected to contribute their significant expertise to the company’s strategic direction. This information is based on the recent SEC filing by Outbrain Inc. Looking ahead, InvestingPro data indicates positive momentum with analysts forecasting both revenue and net income growth for the current year. For deeper insights into Outbrain’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, along with 14 additional actionable ProTips for this stock.
In other recent news, Outbrain Inc. has reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $0.07, missing the anticipated $0.13, and recorded revenue of $234.6 million, below the forecasted $260.61 million. Outbrain’s revenue saw a 5% year-over-year decrease, although the company did achieve a 21% increase in Adjusted EBITDA, indicating improved operational efficiency. The recent merger with Teads is expected to provide potential benefits, including cross-selling opportunities and enhanced market offerings, as highlighted by analysts from Citizens JMP and Jefferies. Citizens JMP maintained a Market Outperform rating with a $10 price target, emphasizing the merger’s potential to enhance revenue streams through upselling. Meanwhile, Jefferies resumed coverage with a Hold rating and a $5.50 price target, noting potential risks in the advertising market despite the merger’s promising synergies. Investors are closely monitoring Outbrain’s integration progress with Teads, as the company aims to capitalize on these opportunities and address the challenges in the coming months.
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