All Reports

We view FY25 as a pivotal year for U. A successful rollout of Unity Vector throughout the year could drive accelerated top-line growth, expand Adjusted EBITDA margins, and trigger a stock re-rating. As the Street…

We are updating our estimate of stock-based compensation for Q1 to reflect the management’s comments. As a result, our GAAP EPS estimates for Q1 and FY25 move lower while the rest of the estimates remain…

We are updating our price target to $28 to reflect the updated estimates and the prevailing valuation multiple. Our current expectations are: Q4 FY25: We expect subscription revenue of $140m, marketplace & other revenue of $46m…

One of the bear arguments that emerged after TTD missed Q4 was the impact of AMZN’s DSP. While the argument looks convincing at first glance, we believe it’s not so strong if one looks closer…

We are downgrading DV shares to neutral today and lowering our twelve-month price target to $14. We acknowledge that this rating change is belated; it would have been more helpful a year ago before the…

Our Q1 and full FY25 estimates remain unchanged. We are tweaking the timing of revenue for Q2, Q3 and Q4. We are modeling the following: Q1 revenue of $575m, Adjusted Ebitda of $145m and adjusted…

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…