Needham analyst Ryan Koontz maintained a Buy rating on Kaltura (KLTR – Research Report) today and set a price target of $3.00.
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Ryan Koontz’s rating is based on Kaltura’s impressive performance in the fourth quarter of 2024, where the company showed a notable increase in subscription revenue and achieved its highest operating margins since 2020. The company’s ability to secure substantial deals, including several seven-figure agreements, contributed to record levels in both remaining performance obligations and annual recurring revenue.
Moreover, Kaltura’s guidance for the fiscal year 2025 is optimistic, surpassing consensus estimates despite some cautiousness regarding the macroeconomic environment. The management’s ambitious targets to double EBITDA by fiscal 2026 and achieve significant efficiency metrics by fiscal 2028 further support the Buy rating. The company’s strategic moves towards enterprise video platform consolidation and their improved execution signal positive growth prospects, justifying the current price target.