Shares of Kaltura (NASDAQ:KLTR) received an upgrade from Wall Street Zen, moving from a hold rating to a buy rating, according to a research note released on the morning of November 11, 2023. This change reflects a shift in analyst sentiment amid ongoing assessments of the company’s financial performance and market position.
In contrast, Weiss Ratings maintained a “sell (d-)” rating on Kaltura’s stock in a report issued on December 15, 2023. Other analysts have also varied in their evaluations. On November 25, 2023, Needham & Company LLC reaffirmed its buy rating, setting a target price of $3.00 per share. Overall, as of now, one analyst recommends buying the stock while another suggests selling it. MarketBeat.com reports that Kaltura has an average consensus rating of “hold” with a target price aligned at $3.00.
Kaltura’s Financial Performance
Kaltura recently disclosed its quarterly earnings results on November 10, 2023. The company reported earnings of $0.01 per share for the quarter, demonstrating slight profitability. Despite this, Kaltura faced challenges with a negative return on equity of 54.84% and a negative net margin of 10.01%. Revenue for the quarter reached $43.87 million, surpassing analysts’ expectations of $43.27 million.
In terms of insider activity, significant transactions have taken place. On November 13, 2023, Director Eyal Manor sold 27,956 shares at an average price of $1.82, amounting to approximately $50,879.92. Following this transaction, Manor retained 340,634 shares, valued at about $619,953.88, reflecting a 7.58% reduction in ownership.
Additionally, Chief Financial Officer John N. Doherty sold 18,580 shares on October 6, 2023, at an average price of $1.52, generating total proceeds of $28,241.60. After this sale, Doherty owned 1,423,180 shares, valued at approximately $2,163,233.60, which is a 1.29% decrease in his stake.
Institutional Investment Trends
Institutional investors have also shown interest in Kaltura, with several hedge funds adjusting their stakes. S Squared Technology LLC acquired a new stake valued at around $1,679,000 during the first quarter. Acadian Asset Management LLC increased its holdings by 170.6%, now owning 1,483,536 shares valued at $2,780,000 after purchasing an additional 935,255 shares.
Walleye Capital LLC boosted its investment by 154.9% in the same quarter, bringing its total to 497,342 shares worth $935,000. Meanwhile, Los Angeles Capital Management LLC entered with a new position valued at $84,000. Currently, institutional investors hold approximately 30.79% of Kaltura’s stock.
Kaltura, Inc., is recognized for its innovative video technology solutions that assist organizations in creating, managing, distributing, and monetizing video content effectively. The company’s cloud-native platform caters to various applications, including enterprise communications, online learning, virtual events, and over-the-top (OTT) television services. By offering a combination of open-source capabilities and software-as-a-service (SaaS) flexibility, Kaltura enables organizations to customize video workflows and seamlessly integrate with existing systems.
As Kaltura navigates these changes, the stock’s performance and the analysts’ ratings will be closely monitored by investors and market participants alike.
