In a report released today, Kara Anderson from B.Riley FBR maintained a Buy rating on Spark Networks Plc (NYSE MKT: LOV), with a price target of $16.50. The company’s shares opened today at $11.99.
Anderson noted:
“We are updating our model for Buy-rated Spark Networks SE (LOV; $16.50 PT) following the release of 1H18 financials. This was Spark’s second earnings report since completing a stock-for- stock merger with European-based online dating operator, Affinitas, last year. 1H18 revenues were €53.0 million and adjusted EBITDA was €2.4 million. While revenues were slightly ahead of our expectations, adjusted EBITDA saw further upside versus our model driven by operating costs below our forecast. Looking ahead, management revised its FY18 revenue and adjusted EBITDA guide to €106.5-€109.5 million (up) and €8.9- €11.9 million (down), respectively, and expects further revenue growth in the mid- to high single-digit range and adjusted EBITDA margin expansion of another 100-300 bps for FY19.”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 10.0% and a 51.5% success rate. Anderson covers the Services sector, focusing on stocks such as Weight Watchers International, Nutrisystem Inc, and TheStreet.
Currently, the analyst consensus on Spark Networks Plc is a Moderate Buy with an average price target of $16.50.
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Based on Spark Networks Plc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.58 million. In comparison, last year the company had a GAAP net loss of $2.58 million.
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Spark Networks SE is a holding company, which engages in the operation of online dating sites and applications. It operates through the North America and International segment. The North America segment consist of thr firm’s operations in the United States and Canada.
