Maxim raised the firm's price target on Zedge to $6 from $5 and keeps a Buy rating on the shares. The firm cite the company's Q1 results topping estimates, with outperformance coming from advertising and subscriptions, the analyst tells investors in a research note. Maxim adds it is encouraged by the launch of Tapedeck for music, DataSeeds to monetize its image library for use in training AI models, and the launch of an AI product innovation team.
