Financial metrics look very strong again, but there is somewhat cautious language in the Shareholder Letter about “choppy” search referrals and traffic getting “more volatile” at the end of the quarter. This combination suggests Q2…

Our analysis indicates that the potential for Adjusted Ebitda margin expansion driven by Unity Vector is not yet fully appreciated by the Street. In this note, we demonstrate – based on recent disclosures by LFTO…

We are downgrading ROKU to Neutral following the announcement of its acquisition by FOXA. We regard upside as limited given the acquisition price per share.

We think that the current valuation of 17x EV/FY27E Adjusted EBITDA will prove to be unsustainably low, given the combination of the growth opportunity from audience monetization and management’s track record, which has been building…