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TTD

Trade Desk

$189.94

-10.99 (-5.47%)

, ROKU

Roku

$127.31

-5.63 (-4.24%)

15:02
10/22/19
10/22
15:02
10/22/19
15:02

SunTrust reiterates a Buy on Trade Desk after Roku's acquisition of dataxu

SunTrust analyst Youssef Squali notes that Roku (ROKU) announced it would acquire dataxu, a video demand-side platform, for $150M in cash and stock. With Trade Desk (TTD) under pressure, the analyst says the news do not change his positive bias on the stock as he believes it will not have a material effect on Trade Desk's financial results. Further, Squali argues that with the acquisition of dataxu, Roku may be eliminating a notable DSP from the landscape as it turns dataxu's focus to becoming the exclusive DSP for Roku-owned inventory. This would imply less competition for Trade Desk, he contends. The analyst also believes Roku's potential move away from a managed business towards a programmatic one could result in tailwinds for the entire CTV industry. Squali has a Buy rating and $285 price target on Trade Desk's shares.

TTD

Trade Desk

$189.94

-10.99 (-5.47%)

ROKU

Roku

$127.31

-5.63 (-4.24%)

  • 06

    Nov

  • 07

    Nov

  • 19

    Nov

  • 21

    Nov

TTD Trade Desk
$189.94

-10.99 (-5.47%)

09/26/19
NOMU
09/26/19
UPGRADE
Target $175
NOMU
Neutral
Nomura Instinet upgrades Trade Desk to Neutral on expectations 'reset'
Nomura Instinet analyst Mark Kelley last night upgraded Trade Desk to Neutral from Reduce and raised his price target for the shares to $175 from $165. The analyst upgraded the shares after rotating this valuation methodology to his 2021 estimates. While he still has concerns about Trade Desk's core business "quickly approaching industry growth," he believes the stock's 22% decline since mid-June indicates expectations have been "appropriately reset."
09/30/19
JEFF
09/30/19
NO CHANGE
JEFF
Jefferies incrementally positive on Trade Desk, Snap after Ad Week
Coming out of the Ad Week conference, Jefferies analyst Brent Thill continues to favor Facebook (FB) and Alphabet (GOOGL) in digital advertising, but the analyst is also incrementally positive on Trade Desk (TTD) and Snap (SNAP). Trade Desk is a direct beneficiary of the shift to emerging ad formats like connected TV and podcasts, which are "highly engaging and still relatively untapped," Thill tells investors in a research note. And while Instagram Stories remains the best format to reach younger users, Snap and Tik Tok are gaining traction and were among the most widely attended sessions, adds the analyst. In addition, Thill was surprised that Amazon.com (AMZN) did not have much presence at the conference.
10/10/19
RBCM
10/10/19
UPGRADE
RBCM
Outperform
Trade Desk upgraded to Outperform from Sector Perform at RBC Capital
10/10/19
RBCM
10/10/19
UPGRADE
Target $250
RBCM
Outperform
Trade Desk upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital analyst Mark Mahaney upgraded Trade Desk to Outperform from Sector Perform with an unchanged price target of $250. The stock closed Thursday down 3% to $185.65. Following the 32% decline from the July highs, Trade Desk's valuation is more compelling, Mahaney tells investors in a research note. Further, the company's positioning as one of the best derivatives off the "strong" secular streaming shift is "very favorable," contends the analyst. He believes Trade Desk's revenue growth and EBITDA margin fundamentals are among the strongest in small-to-mid cap space.
ROKU Roku
$127.31

-5.63 (-4.24%)

10/09/19
MACQ
10/09/19
UPGRADE
Target $130
MACQ
Outperform
Macquarie upgrades Roku to Outperform, sees tripling of sales by 2022
Macquarie analyst Tim Nollen upgraded Roku to Outperform from Neutral with a price target of $130, up from $110. The shares closed Tuesday up $1.75 to $108.00. The shift to connected television viewing that has been underway in the U.S. for the past few years will follow internationally in the coming years, Nollen tells investors in a research note. Roku has built a leading position in the U.S., and its devices will find a "ready market abroad," contends the analyst. However, he believes the bigger growth opportunity may be the company's smart TV operating system integrations. Nollen thinks Roku can grow its user base by three times to over 70M active accounts by 2022, from 31M currently. 72M subscribers by 2022 could drive Platform revenue to $2.3B and overall revenue of $2.7B, nearly tripling from 2019 guidance, says the analyst.
10/09/19
10/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Roku (ROKU) upgraded to Outperform from Neutral at Macquarie with analyst Tim Nollen saying the shift to connected television viewing that has been underway in the U.S. for the past few years will follow internationally in the coming years. 2. Chipotle (CMG) upgraded to Hold from Underperform at Gordon Haskett with analyst Jeff Farmer saying the company's sales momentum makes the bear thesis on shares "increasingly untenable." 3. Sleep Number (SNBR) upgraded to Outperform from Market Perform at Raymond James with analyst Bobby Griffin saying Sleep Number's pullback over the last few months creates a more favorable risk/reward setup heading into Q3 earnings and adds that he continues to have a favorable view of the company's business model and product offering, particularly as consumers focus on health and wellness. 4. American Outdoor Brands (AOBC) upgraded to Buy from Hold at Craig-Hallum with analyst Steven Dyer saying he believes valuation is "extremely attractive" and thinks there is a compelling near-term opportunity with potential catalysts upcoming even though he continues to have concerns about a potential longer-term secular decline in firearms. 5. Fannie Mae (FNMA) and Freddie Mac (FMCC) upgraded to Market Perform from Underperform at Keefe Bruyette. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/19
RBCM
10/10/19
UPGRADE
RBCM
Outperform
Roku upgraded to Outperform from Sector Perform at RBC Capital
10/10/19
RBCM
10/10/19
UPGRADE
Target $155
RBCM
Outperform
RBC Capital upgrades Roku 'back to Outperform' following pullback
RBC Capital analyst Mark Mahaney, who had downgraded Roku on July 1, has now upgraded the stock to Outperform from Sector Perform and raised his price target on the shares to $155 from $107, stating that he sees the valuation as "more compelling" following a 31% pullback recently in the stock. He also views the company's fundamentals as among the strongest in the small cap Internet sector and views the stock as one of the best derivative plays on the trends of OTT and streaming, Mahaney tells investors.

TODAY'S FREE FLY STORIES

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WSM

Williams-Sonoma

$70.48

-0.88 (-1.23%)

21:33
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Initiation
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W

Wayfair

$84.57

1.28 (1.54%)

21:31
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Initiation
Wayfair initiated at Barclays »

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  • 19

    Dec

VFC

VF Corp.

$84.69

-1.7 (-1.97%)

21:28
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Initiation
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URBN

Urban Outfitters

$30.85

0.295 (0.97%)

21:25
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Initiation
Urban Outfitters initiated at Barclays »

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  • 19

    Nov

UAA

Under Armour

$17.29

-0.295 (-1.68%)

21:23
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Initiation
Under Armour initiated at Barclays »

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ULTA

Ulta Beauty

$244.06

2.19 (0.91%)

21:19
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Initiation
Ulta Beauty initiated at Barclays »

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  • 05

    Dec

TJX

TJX

$58.40

-0.14 (-0.24%)

21:15
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Initiation
TJX initiated at Barclays »

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  • 19

    Nov

TPR

Tapestry

$26.38

-0.295 (-1.11%)

21:12
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21:12
Initiation
Tapestry initiated at Barclays »

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  • 20

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AFL

Aflac

$53.97

-0.04 (-0.07%)

21:02
11/12/19
11/12
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21:02
Hot Stocks
Aflac names Frederick Crawford new COO »

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ROST

Ross Stores

$110.97

-1.16 (-1.03%)

21:00
11/12/19
11/12
21:00
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Initiation
Ross Stores initiated at Barclays »

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  • 21

    Nov

RL

Ralph Lauren

$111.44

-2.58 (-2.26%)

20:57
11/12/19
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20:57
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Initiation
Ralph Lauren initiated at Barclays »

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RH

RH

$174.48

-0.18 (-0.10%)

20:56
11/12/19
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Initiation
RH initiated at Barclays »

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PVH

PVH Corp.

$96.91

0.14 (0.14%)

20:53
11/12/19
11/12
20:53
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20:53
Initiation
PVH Corp. initiated at Barclays »

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  • 26

    Nov

JWN

Nordstrom

$36.90

-0.52 (-1.39%)

20:51
11/12/19
11/12
20:51
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20:51
Initiation
Nordstrom initiated at Barclays »

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  • 20

    Nov

NKE

Nike

$89.51

-0.52 (-0.58%)

20:46
11/12/19
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20:46
Initiation
Nike initiated at Barclays »

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EYE

National Vision

$27.03

0.24 (0.90%)

20:43
11/12/19
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Initiation
National Vision initiated at Barclays »

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LB

L Brands

$17.53

0.02 (0.11%)

20:40
11/12/19
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Initiation
L Brands initiated at Barclays »

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  • 21

    Nov

BABA

Alibaba

$186.97

0.26 (0.14%)

20:25
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20:25
Periodicals
Alibaba gets approval to sell shares in Hong Kong, SCMP reports »

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  • 19

    Nov

ENR

Energizer

$42.01

-1.1 (-2.55%)

, SPB

Spectrum Brands

$51.19

-0.76 (-1.46%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

ENR

Energizer

$42.01

-1.1 (-2.55%)

SPB

Spectrum Brands

$51.19

-0.76 (-1.46%)

SSYS

Stratasys

$20.74

0.04 (0.19%)

FVRR

Fiverr

$21.56

-0.47 (-2.13%)

MTOR

Meritor

$23.44

-0.25 (-1.06%)

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  • 13

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  • 21

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  • 12

    Dec

DDOG

Datadog

$34.40

0.89 (2.66%)

20:02
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11/12
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Hot Stocks
Datadog establishes Japanese subsidiary »

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  • 12

    Nov

  • 19

    Nov

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