QualityStocksNewsBreaks – Newsmax Inc. (NYSE: NMAX) Receives Outperform Rating in Channelchek Coverage Following Strong Q1 Results
Newsmax (NYSE: NMAX) shares may offer significant upside following stronger-than-expected first-quarter results, according to Channelchek equity research from Noble Capital Markets, which maintained an “Outperform” rating and set a $17 price target versus a recent $6.92 share price. Analysts Michael Kupinski, director of research and equity research analyst covering digital, media and technology, and research associate Jacob Mutchler said Newsmax delivered $51.7 million in first-quarter revenue and an adjusted EBITDA loss of $354,000, outperforming their forecasted $3.1 million loss, driven in part by lower-than-expected professional fees and marketing expenses. The report highlighted affiliate fee revenue growth of 75.15% year over year as a key long-term earnings driver,…