Ad Pepper Media's Strong Performance Earns 'Buy' Recommendation

Ad Pepper Media International N.V. has received a 'Buy' recommendation from First Berlin Equity Research GmbH. Analyst Dr. Karsten von Blumenthal has set the target price at EUR 5.00, maintaining this valuation based on the company's promising performance in the third quarter of 2026.

The company has reported a notable 17% year-on-year growth in revenue and a 15% increase in EBITDA. This growth was largely driven by the solute segment, which focuses on price comparison portals. Despite this success, the Webgains segment, which deals with affiliate marketing, fell short of expectations.

The management of Ad Pepper Media has upheld its EBITDA forecast for 2026, predicting earnings will be in the upper half of the EUR 6.5 million to EUR 7.5 million range. The positive outlook is supported by expectations of a robust holiday season.