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Fly News Breaks for August 27, 2019
ICLK
Aug 27, 2019 | 06:51 EDT
iClick Interactive Asia reported "solid" Q2 results, delivering revenue upside from traction in enterprise solutions, Benchmark analyst Fawne Jiang tells investors in a research note. However, the company lowered its fiscal 2019 revenue guidance and gross margin outlook due to continued adverse currency impact and advertising pricing pressures, Jiang tells investors in a research note. Nonetheless, the analyst is encouraged that iClick's enterprise solution segment is expected to emerge as a key driver of longer-term sales growth and margin expansion. She lowered her price target for the shares to $8 from $9 and reiterates a Buy rating on the name.
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