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Another quarter with a really bad combination of a miss, soft guidance below already lowered expectations and an announced acquisition which is likely to fuel the “buying growth” argument. Hard to think of what the…

We are updating our model to reflect Q4 results. We are raising our price target to $29 and maintain Neutral rating. We now expect the following results: Q1 FY25: We are modeling Create Solutions revenue of…

Q4 results ahead of expectations but the guide for Q1 is light. Assuming flat Q/Q Grow revenue, the implied shortfall v. our model is in the Create segment. We will be looking for more details…

We are updating our estimates following Q4 report and adjusting our price target to $121 which is based on 35x EV/FY27E Adjusted Ebitda. We are now modeling Q1 revenue of $575m, Adjusted Ebitda of $145m…

We are raising our 12 month price target to $620 and maintain Buy rating. Our updated estimates are: Q1 FY25: we are modeling Advertising (Software Platform) revenue of $1,050m and Adjusted Ebitda of $819m, Apps…

We are updating our model following Q4 FY24 report. We are also raising our price target to $244 to reflect revised estimates. We currently expect RDDT to report the following results: Q1 FY25: Average Daily Uniques…

We are updating our estimates following Q4 FY24 report. Our rating and price target remain unchanged. Q1 FY25 We expect Platform revenue of $876m and gross profit of $463m, Devices revenue of $127m and gross profit…

A long-expected good quarter with the results and guidance supporting the bull thesis. The Platform segment gross margin of 54.1% hints at another ASC 606 adjustment. ROKU provides guidance for full FY2025 for revenue above…

Another beat and raise. We would like to highlight that the earnings materials identify connected TV as an area of “significant potential” which APP is currently “exploring”. This may become the next frontier in FY25…

Disappointing results and guidance, probably the worst combination in years. The CEO’s message in the press release is different this quarter and calls out a reorganization in December. We expect the call to be different,…

We are updating our model following Q3 FY25 report. We maintain Neutral rating and adjust our price target to $36 to reflect the updated estimates and the prevailing valuation multiple. Q4 FY25: We expect subscription revenue…

We are updating our model following Q4 FY24 results. We are modestly lowering our price target to $55 and maintain Neutral rating. Our Q1 FY25 estimates are: 11,000K digital-only subs at quarter end Digital-only subscription…

Generally in-line Q4 results support our argument that operating trends are stable with only minor surprises in some quarters. This, in our view, makes it difficult, for a convincing longer term bull or bear case…

Below are our estimates for Q4 FY24, Q1 and full year FY25. Q4 FY24: We are modeling Measurement revenue of $68m, up 13% Y/Y, Activation revenue of $113m which implies 14% growth v. last year; our…

We are updating our model ahead of Q3 FY25 report. Q3 FY25: We expect subscription revenue of $144m, marketplace & other revenue of $48m and total company revenue of $191m. We are modeling adjusted gross profit…