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Fly News Breaks for January 15, 2020
GOOG, GOOGL, TTD, RAMP, TLRA, RUBI
Jan 15, 2020 | 12:52 EDT
Stephens analyst Kyle Evans said he viewed Google's (GOOGL) announcement yesterday about plans to phase out browser cookies by 2022 as widely anticipated. Although this news may be a slight negative for Rubicon (RUBI) and Telaria (TLRA), as it could shift some targeting premiums on certain inventory away from sell-side of the ad ecosystem, he believes the concerns are overblown and sees both being in an excellent position to benefit longer term from supply chain optimization, the connected TV tailwind and their pending merger. Evans, who keeps his Overweight ratings on both Rubicon and Telaria but put his price targets on their shares under review, sees limited impact to the ad tech group as a whole from the Google announcement. Other advertising technology companies he covers include LiveRamp (RAMP) and Trade Desk (TTD).
News For RUBI;TLRA;RAMP;TTD;GOOGL;GOOG From the Last 2 Days
GOOG, GOOGL
Jan 15, 2021 | 06:25 EST
MoffettNathanson analyst Michael Nathanson raised the firm's price target on Alphabet Class A to $2,100 from $1,900 and keeps a Buy rating on the shares. The analyst believes there will be a rebound in the advertising market during 2021 led by digital and that linear TV "will be strong."
GOOGL, GOOG
Jan 14, 2021 | 19:15 EST
Apple (AAPL) has taken down the social media platform Wimkin from its App Store, the Wall Street Journal's David Uberti reports. The company removed Wimkin over content that included calls for a civil war and the arrest of Vice President Mike Pence, Uberti says, citing Wimkin founder Jason Sheppard and records of his correspondence with the tech giant. Sheppard said that his company's small team pulled dozens of posts and a group trying to organize a "Million Militia March" at President-elect Joe Biden's inauguration next week, the author notes. In addition, Google Play (GOOG) app store representatives warned Sheppard of potential suspension, giving him 24 hours to implement new policies, the author says, citing a copy of their correspondence. Reference Link
TTD
Jan 14, 2021 | 16:01 EST
The Trade Desk announced the appointment of Michelle Hulst as Chief Operating Officer. Hulst will be responsible for global operations, data, commercial enablement, and client services around the world as the company continues to execute on its growth strategy. Hulst previously served as Executive Vice President, Global Data and Strategy at The Trade Desk. In this position, she has been instrumental in building out partnerships and capabilities across a range of The Trade Desk's initiatives, including the industry-wide Unified ID 2.0 project, which is an upgrade and alternative to third-party cookies. As COO, Hulst retains oversight of the Global Data Team at The Trade Desk and reports directly to CEO Jeff Green. "Marketers are becoming more data-driven and deliberate in everything they do, which is driving tremendous momentum and long-term opportunity for The Trade Desk. I'm thrilled that Michelle will apply her expertise and experience to all aspects of our global operations, squarely focused on helping us scale globally," said Jeff Green, Co-Founder and Chief Executive Officer, The Trade Desk. "Michelle's appointment as our new COO will enable The Trade Desk to build on its leadership position and bring the full power of data-driven advertising to the world's leading brands."
GOOG, GOOGL
Jan 14, 2021 | 11:07 EST
IBM plans to acquire Taos Mountain, an IT firm that helps companies shift software and data to the cloud, reported The Wall Street Journal's Jared Council, citing confirmation from John Granger, senior vice president of cloud application innovation and chief operating officer of IBM Global Business Services. Terms of the transaction, which is expected to close this quarter, were not disclosed. IBM already has similar consulting services, but acquired Taos partly because of the strength of Taos's partnerships with major public cloud service providers Amazon Web Services (AMZN), Google Cloud Platform (GOOGL), and Microsoft's (MSFT) Azure, according to the report. Reference Link
GOOGL, GOOG
Jan 14, 2021 | 15:52 EDT
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news.  FACEBOOK, INSTAGRAM BLOCK... To see the rest of the story go to thefly.com. See Story Here
GOOGL, GOOG
Jan 14, 2021 | 06:21 EST
Google is blocking all political ads and those referencing the U.S. Capitol siege until at least the day after inauguration, Business Insider's Katie Canales reports. In a statement to the publication, Google said "Given the events of the past week, we will expand our Sensitive Event policy enforcement to temporarily pause all political ads in addition to any ads referencing impeachment, the inauguration, or protests at the U.S. Capitol." Reference Link
GOOGL, GOOG
Jan 13, 2021 | 15:33 EST
Alphabet's Google said it has released a fix for issues with certain Android apps developed using the company's Exposure Notifications Systems that helps in coronavirus contact tracing, Reuters' Tiyashi Datta and Akanksha Rana report. The issue led to a delay in the ability of such apps to load or conduct typical exposure checks, the authors say. A Google spokesperson told Reuters that it may take some time for devices to catch up after the fix, noting that the company will work directly with developers in certain cases, the author says. Reference Link
RAMP
Jan 13, 2021 | 08:36 EST
Evercore ISI analyst Kirk Materne raised the firm's price target on LiveRamp to $100 from $85 and keeps an Outperform rating on the shares. The company is at a "critical point" in its journey where the industry is starting to realize there is a very pressing need for a major change in how they target, address, and measure users, Materne tells investors in a research note. The analyst believes LiveRamp has a "large opportunity to be the primary provider of the solution." Further, he believes 2021 and 2022 estimates will move higher as the economy reopens. LiveRamp should see some further multiple expansion as investors see some of the growing interest in its Authenticated Traffic Solution, says Materne.