In our view, the current narrative about potential impact from Google’s algorithm changes overshadows important developments which support the bull case. Our Buy thesis is predicated on our belief that (i) RDDT is early in…

We are updating our model to reflect Q1 results and the sale of the Apps business. Our updated estimates are: Q2 FY25: We expect total company revenue of $1,205m and Adjusted Ebitda of $976m. We…

We are updating our model following Q4 FY25 report. We maintain our Neutral rating and adjust our price target to $34 to reflect the updated estimates and the prevailing valuation multiple. Q1 FY26: We expect subscription…

We believe that Roku’s updated guidance for the Platform segment’s gross margin in FY25 has positive implications for the revenue trajectory this year. Our analysis, detailed below, suggests that the change came as a result…