The initiation of coverage by JMP Securities with a Market Outperform rating typically suggests a bullish stance on the stock, implying that the analyst believes the stock will perform better than the broader market. The announcement of a price target of $37, which is presumably higher than the current trading price, indicates an expectation of upward movement in the stock's price. This can have a positive impact on investor sentiment and potentially lead to a short-term increase in the stock price.