All Reports

We are updating our model following Q3 report, our revised forecast is below. Our price target and rating remain unchanged. For Q4 FY24, we expect Connected TV revenue of $76m, Desktop revenue of $30m and…

We are updating estimates following Q3 report and raising price target to $142 to reflect high forward esitmates. We are now modeling Q4 revenue of $756m and Adjusted Ebitda of $363m. We expect FY25 revenue…

We are updating estimates following Q3 FY24 report. 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 forecast for Supply-side revenue…

The guide for Q4 is likely to be seen as disappointing today given the expectations which kept growing. We would point out, however, that the 5% beat implies that the business is firing on all…

We are raising our 12 month price target to $290 and maintain Buy rating. Our updated estimates are: Q4 FY24: we are modeling Software Platform revenue of $877m and Adjusted Ebitda of $667m, Apps revenue…

Another very strong quarter. The shareholder letter highlights “technology enhancements” to AXON, we are guessing similar to the one that occurred in Q1 and drove a massive beat. An additional $2bn share repurchase authorization announced….

We are updating our model following Q3 FY24 results. Our price target and rating remain unchanged. Our estimates for Q4 FY24 are: 10,864K digital-only subs at quarter end Digital-only subscription revenue of $333m Total subscription…

We currently expect RDDT to report the following results: Full FY25: Advertising revenue of $1,454m, other revenue of $143m and total revenue of $1,597m. We are modeling Adjusted Ebitda of $397m. We expect GAAP diluted EPS…

In our view the results look solid relative to the guidance provided. Expectations may have gone up into the print as some expected a bigger boost due to the election. We think NYT’s business model…

We are updating our estimates following Q3 report. Our rating and price target remain unchanged. Q4 FY24: We expect Platform revenue of $945m and gross profit of $500m, Devices revenue of $194m and gross profit of…

Lots of moving pieces against the backdrop of elevated expectations, we think the call will bring more clarity. The guidance for 14% Platform revenue growth in Q4 implies a ~1% deceleration v. Q3 but Q3…

We are updating our estimates following Q3 FY24 report. We are raising out price target to $135 to reflect the updated estimates and the current valuation multiple. We currently expect RDDT to report the following…

We think Q3 results will go a long way in giving the Street incremental conviction in the growth trajectory going forward. Performance advertising revenue growth re-accelerated implying monetization initiatives launched last year continue to yield…

we are updating our estimate of subscription revenue for Q2 FY25. Q2 FY25: We expect subscription revenue of $136m, marketplace & other revenue of $40m and total company revenue of $176m. We are modeling adjusted gross…

In this note we show that an acceleration in Platform revenue growth in FY25 looks doable given the growth trajectory of the existing revenue streams and the opportunity presented by the partnership with TTD and…