Wedbush Morning Call - Jun 17 2025 7:04AM

Amazon, Roku Position to Dominate CTV Platforms, While Netflix Leads S...

Wedbush Morning Call - Jun 13 2025 7:09AM

WEDBUSH INVITE: Watching Connected TV Advertising Trends Monday 6/16 1...

Snap Inc: 3 directors

Three Directors at Snap Inc sold after exercising options/sold 243,139 shares at between 8.542USD and 8.595USD. The significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the compa...

Netflix (NFLX, Neutral, $975 target) Mgmt. Meeting Recap including tak...

We attended NFLX’s group meeting with the investment community post Upfronts earlier today. The full group of executives took questions for an hour, followed by almost another hour of follow-up scrums. We spent most of our time in the follow up period speaking with President of Advertising, Amy Reinhard, and our takeaways mostly walk through the incremental color she shared. There are no changes to our advertising model or estimates. The latest disclosure of 94M monthly active users (MAUs) is ...

US Internet 1Q25 Update Better than feared, but still choppy ahead

We update models for our US Internet coverage following earnings, with estimates and target valuations generally higher.

Steady Progress; Raising PT to $10

Estimating the Impact of Potential Film Tariffs

Moody's Ratings upgrades Netflix's senior unsecured notes ratings to A...

Moody's Ratings (Moody's) upgraded Netflix, Inc.'s (Netflix) senior unsecured notes ratings to A3 from Baa1. The outlook remains positive. "The upgrade reflects years of excellent execution, a well entrenched and enviable competitive position, expanding profitability, and free cash flow predictabi...

US Internet: What we know (and don’t know) about China/de minimis adve...

On Monday, we analyzed GOOGL and META’s potential exposure to China-based advertisers HERE, and discussed META’s exposure more HERE. Last night, SNAP cited weakness from advertisers impacted by changes to the de mimimus exemption as one example of the macro uncertainty that led it to pull 2Q25 guidance (see HERE for full takeaways). Led by Temu and Shein, there is likely high overlap between China-based retailers and those impacted by de minimis exemption changes.

Tariff Impact Part III: The other shoe drops – lower company estimates...

Yesterday, we lowered estimates for eCommerce and digital ad spending HERE. In this report, the other shoe drops and we lower estimates and targets across our coverage.

Wedbush Morning Call - Apr 21 2025 7:06AM

A Refuge from Uncertainty; Reit OP, PT to $1,200

Netflix 1Q25 Update: Steady in the Storm, target to $975

Our target price increases to $975 from $900 on higher estimates and valuation.

Netflix (NFLX, Neutral, $900 target) First Take: Potential recession ...

In our first take on tonight’s results, we dig into: Long-term outlook: leaked memo is real but aspirational, not a five-year forecast Short-term: tracking above 2025 guide, ads still expected to double, UCAN re-accel Pricing power solid in face of potential macro headwinds – France price hiked International production could be a ballast against digital services taxes

IMAX is Ready to Show Off; Reit OP, $32 PT

Wedbush Morning Call - Apr 11 2025 6:53AM

Our Survey Suggests Q1 Upside Despite Pressures; Reit OP, $1,150 PT

Wedbush Morning Call - Apr 07 2025 6:56AM