What happened

Shares of Telaria (TLRA), a provider of a software platform to help premium video publishers optimize their advertising yield, jumped on Friday. The stock was up 10.3% as of 2:17 p.m. EDT today.

The stock's gain comes after the company's earnings report earlier this week, as well as several bullish analyst notes this week.

A chart showing a stock price moving higher

Image source: Getty Images.

So what

Shares of the tech company initially pulled back when it announced its third-quarter results on Tuesday. Video advertising revenue from desktop offset some of the big gains the company saw from video advertising on connected TV (CTV) -- the company's core business. Total revenue was up 23% year over year, but CTV revenue, which accounted for 44% of total revenue, jumped 115%.

The day before the earnings report, Stephens analyst Kyle Evans gave the stock a 12-month price target of $11, noting that he expects the programmatic advertising platform to see strong growth thanks to industry tailwinds in CTV. But he warned that shares would likely continue to see volatility. 

Lake Street analyst Mark Argento urged investors to buy the stock on weakness following the earnings report. The decline of the company's desktop business, he said, was already priced in. Furthermore, he believes Telaria's revenue from CTV will continue to outpace industrywide ad-spend growth in the channel. He reiterated a buy rating and an $11 price target.

Now what

For the full year, Telaria expects revenue between $69 million and $71 million. The midpoint of this range implies 27% year-over-year growth. In addition, management guided for full-year adjusted EBITDA between $2 million and $4 million, up from negative $400,000 in 2018.