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December 3, 2023

To materiality and beyond! Shopper marketing revenue growth to accelerate in FY24

By Vasily Karasyov

In this note we show that, based on what we see as fairly conservative assumptions, shopper marketing should become a legitimate contributor to growth next year. We estimate it will account for 8.6% of total…

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November 26, 2023

Upgrading to Buy

By Vasily Karasyov

We are upgrading ROKU shares to buy from Neutral as we now believe that room for upside to FY24 consensus forecast is enough to allow for more meaningful upward estimates revisions than we have seen…

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November 14, 2023

Updating model following Q3 report

By Vasily Karasyov

We are updating our model to reflect Q3 results and the guidance for Q4. Q4 FY23: Smart TV shipments of 1.4m, Device segment revenue of $333m and gross profit of ($7m), Platform+ revenue of $166m, gross…

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November 13, 2023

Model update

By Vasily Karasyov

We are updating our estimates following Q3 report. Our Buy rating and price target of $44 remain unchanged. Our latest estimates are: Q4 FY23: We are modeling $61m in Measurement revenue, $99m in activation and…

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