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Benzinga

Business

Anusuya Lahiri

Read How Analysts View System1 Post Q4 Results

System1 Tom Forte Nasdaq DA Davidson Meta NYSE

Analysts lauded System1 Inc's (NYSE:SST) Q4 FY21 beat and FY22 guidance.
Benchmark analyst Daniel Kurnos noted that shares of System1 closed up 23% on a volume of 32 million shares on April 6 post Q4 beat.
Kurnos called System1 "more than a meme" and saw it ready for another year of outperformance in 2022.
Kurnos has a Buy rating and a $15 price target (24.8% downside) on System1 shares.
DA Davidson analyst Tom Forte raised the price target to $26 from $23 (30% upside) and kept a Buy rating on the shares.
Forte was encouraged by the company's Q4 results, with digital advertising revenue up 41% and subscription revenue up 56%.
Forte adds that System1 was not materially affected by Apple Inc's (NASDAQ:AAPL) focus on privacy, which hurt many digital advertisers in the quarter, most notably Meta Platforms Inc (NASDAQ:FB).
Price Action: SST shares traded higher by 19.7% at $23.89 in the premarket on the last check Thursday.

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