RESEARCH

Title Date
Lightspeed 4Q22: Six Metrics to Watch in FY23 May 20, 2022
Payments: The Bull and the Bear in 71 Slides May 20, 2022
Block Investor Day: What a Difference Five Years Makes May 19, 2022
Take-Two: It's Ready When It's Ready May 17, 2022
Nubank 1Q22: The Power of the Card May 17, 2022
VG Comps 2022-05-16 May 16, 2022
Media Comps 2022-05-16 May 16, 2022
Telecom Cable Satellite Comps 2022-05-16 May 16, 2022
Communications Infrastructure Comps 2022-05-16 May 16, 2022
Affirm 3Q22: Leading in a Niche Market May 13, 2022
TOST 1Q22: The Push Beyond Payments May 13, 2022
Disney: Two Years Later and Two Years from Now May 12, 2022
SoFi 1Q22: Personal Loans to the Rescue May 11, 2022
EA: Football is Life, Upgrading to Buy May 11, 2022
U.S. Data Centers: Implications of the Acquisition of Switch May 11, 2022
U.S. Video Games: Zynga's Last Dance - May 10, 2022 May 10, 2022
Fox: Still a Good Place to Hide May 10, 2022
DraftKings: Stuck in a Moment May 9, 2022
Cinemark: Exhibitors’ Swagger Back? May 9, 2022
Media Comps 2022-05-09 May 9, 2022
VG Comps 2022-05-09 May 9, 2022
Communications Infrastructure Comps 2022-05-09 May 9, 2022
Telecom Cable Satellite Comps 2022-05-09 May 9, 2022
2022-05-10 Cable Opportunity in the Aftermath Conference Deck May 9, 2022
Shift4 1Q22: What’s $180 Billion of Gateway Volume Worth? May 6, 2022
Block 1Q22: Unwavering – The Outlook for Square May 6, 2022
Dish Network Q1 2022 Earnings: A Retail Report Card May 6, 2022
Frontier Q1 2022 Earnings: What Does a Logo Tell Us? May 6, 2022
U.S. Cable: Opportunity in the Aftermath May 5, 2022
Cognizant 1Q22: Inflation Crosscurrents May 5, 2022
AMC Networks: Is A Different Business Model Enough? May 5, 2022
Cable One Q1 2022 Earnings: How Safe Is Rural? (Part II) May 5, 2022
Paramount: Sticking to the Plan May 4, 2022
FIS 1Q22: The Double Uncertainty of Volumes and Yields – Unpacking FIS’s U.S. Merchant Acquiring Market Share May 4, 2022
Lisa in the Press - Forbes CryptoAsset & Blockchain Advisor May 4, 2022
Lumen Q1 2022 Earnings: The Read Across May 4, 2022
GPN 1Q22: Temporary Dip or Permanent Trend? GPN’s U.S. Merchant Acquiring Market Share May 3, 2022
U.S. Media: The Point of No Return? May 2, 2022
VG Comps 2022-05-02 May 2, 2022
Media Comps 2022-05-02 May 2, 2022
Communications Infrastructure Comps 2022-05-02 May 2, 2022
Telecom Cable Satellite Comps 2022-05-02 May 2, 2022
Roku: Now You Know What You Are Buying Here; Upgrade to Neutral Apr 29, 2022
Interpublic: Safety in Ad Land Apr 29, 2022
Mastercard 1Q22: Russia Who? Apr 29, 2022
Charter Q1 2022 Earnings: Wireless versus Broadband Apr 29, 2022
Cogent Q1 2022 Earnings: Don’t Let the Drive-By CFO Transition Overshadow Improving Financial Results Apr 29, 2022
Meta: We're Not Dead Yet! Apr 28, 2022
ADP 3Q22: Safe Harbor in a Turbulent Sea Apr 28, 2022
Fiserv 1Q22: The Crown Jewel – Clover’s Market Share and Growth Outlook Apr 28, 2022
PYPL 1Q22: Can Doing “Fewer Things, Better” Sustain Mid-Teens Revenue growth? Apr 28, 2022
Comcast Q1 2022 Earnings: It’s the Subscribers, Stupid Apr 28, 2022
Altice USA Q1 2022 Earnings: How Safe Is Rural? Apr 28, 2022
Digital Realty Q1 2022 Earnings: The Land of Giants Apr 28, 2022
Alphabet: Brace Yourself and Take a Breath Apr 27, 2022
Visa 2Q22: U.S. Growth – How Long Can it Last? Apr 27, 2022
American Tower Q1 2022 Earnings: Germany on my Mind Apr 27, 2022
T-Mobile Q1 2022 Earnings: Is that… ARPU Growth??? Apr 27, 2022
WPP: Agencies 1, All Other Advertising 0 Apr 27, 2022
Equinix Q1 2022 Earnings: All of Their Ducks in a Row Apr 27, 2022
Activision: Biding Time Apr 26, 2022
Final Payments Proecessors IT Services Agenda Apr 26, 2022
Warner Bros. Discovery: A New Journey Begins Apr 26, 2022
AXP 1Q22: Not So Transitory – The Impact of Inflation on Amex Apr 25, 2022
VG Comps 2022-04-25 Apr 25, 2022
Media Comps 2022-04-25 Apr 25, 2022
Communications Infrastructure Comps 2022-04-25 Apr 25, 2022
Telecom Cable Satellite Comps 2022-04-25 Apr 25, 2022
Twitter: Run … To The Bank Apr 25, 2022
SBA Q1 2022 Earnings: Solid Results plus an FX Tailwind Apr 25, 2022
Toast: The Elusive Rewards of International Expansion Apr 22, 2022
Snap: Spotlight on the Macro Apr 22, 2022
Verizon Q1 2022 Earnings: Pity the Elder Statesman Apr 22, 2022
AT&T Q1 2022 Earnings: Is there Really a Path to Better (Higher) Pricing? Apr 21, 2022
Omnicom: A Brand New Day? Apr 20, 2022
Netflix: Four Reasons Why… Cutting Price Target to $245 Apr 20, 2022
IBM 1Q22: Outrunning Inflation Apr 20, 2022
9th Annual Media & Communications Summit Agenda Apr 20, 2022
Crown Castle Q1 2022 Earnings: Exogenous Factors vs. Company-Specific Ones Apr 20, 2022
It’s Time to Take Cable’s Wireless Business Seriously [Updated] Apr 18, 2022
The Quarterly U.S. SVOD Tracker (1Q 2022) Apr 18, 2022
VG Comps 2022-04-18 Apr 18, 2022
Media Comps 2022-04-18 Apr 18, 2022
Telecom Cable Satellite Comps 2022-04-18 Apr 18, 2022
Communications Infrastructure Comps 2022-04-18 Apr 18, 2022
Payments: The Year of Travel, Inflation, and Omnichannel – Our 2022 Proprietary eCommerce Forecast Apr 14, 2022
Twitter: Take The Money … And Run Apr 14, 2022
Roku: Three Key Things to Worry About Apr 13, 2022
Payments Processors IT Services Summit Agende 2022 Apr 13, 2022
Fixed Wireless: Where the Subscribers Are Coming From Apr 12, 2022
Fintech: The Fintech Sector Initiation in 80 Slides Apr 12, 2022
Payments: The End of Cash/Checks in the U.S.? Not So Fast Apr 11, 2022
Towers & Data Centers: A Funny Thing Happened on the Way to Higher Rates... Downgrade SBA to Neutral Apr 11, 2022
Warner Bros. Discovery: Contender or Pretender? Apr 11, 2022
VG Comps 2022-04-11 Apr 11, 2022
Media Comps 2022-04-11 Apr 11, 2022
Telecom Cable Satellite Comps 2022-04-11 Apr 11, 2022
Communications Infrastructure Comps 2022-04-11 Apr 11, 2022
Fintech: Down But Not Out - Initiating Coverage of the Fintech Sector [EXCERPT] Apr 11, 2022
Fintech: Down But Not Out - Initiating Coverage of the Fintech Sector Deck Apr 8, 2022
SoFi: Near-Term Pain, (Some) Long-Term Gain – Implications of the Student Loan Moratorium Extension Apr 7, 2022
AT&T: Alone at Last… Moving to Our Post-Spin Target Price of $19 Apr 5, 2022
Down But Not Out - Initiating Coverage of the Fintech Sector Apr 5, 2022
VG Comps 2022-04-04 Apr 4, 2022
Media Comps 2022-04-04 Apr 4, 2022
Communications Infrastructure Comps 2022-04-04 Apr 4, 2022
Telecom Cable Satellite Comps 2022-04-04 Apr 4, 2022
U.S. Advertising: Re-Examining Our Wide-Eyed Optimism and The State of Linear Viewing Deck Apr 1, 2022
Paychex 3Q22: Still Plenty Of Pep In That Step – A Look At The Health Of The U.S. SMB Sector Mar 31, 2022
U.S. Video Games: PlayStation Plus Gets a Makeover Mar 30, 2022
Meeting with Oakleigh Thorne, Chairman & CEO, and Barry Rowan, CFO Mar 30, 2022
U.S. Cable and the Census: How Footprints Matter - March 29 2022 Mar 29, 2022
VG Comps 2022-03-28 Mar 28, 2022
Media Comps 2022-03-28 Mar 28, 2022
Communications Infrastructure Comps 2022-03-28 Mar 28, 2022
Telecom Cable Satellite Comps 2022-03-28 Mar 28, 2022
CyrusOne: Dropping Coverage Mar 28, 2022
FISV, FIS, GPN: Deserved or Dislocated? The Valuation Question Mar 25, 2022
Conference Call The Industry Inflation Forgot Mar 24, 2022
U.S. Media: The State of Linear Viewing (2021) Mar 24, 2022
Frontier: A Fiber Expansion Progress Report; Returns Appear On Track, But Lower TP to $33 on Macro Factors Mar 23, 2022
Payments Sector Marketing Deck Mar 21, 2022
U.S. Advertising: Re-Examining Our Wide-Eyed Optimism Mar 21, 2022
Netflix TAM Call 03-21-22 Mar 21, 2022
VG Comps 2022-03-21 Mar 21, 2022
Media Comps 2022-03-21 Mar 21, 2022
Communications Infrastructure Comps 2022-03-21 Mar 21, 2022
Telecom Cable Satellite Comps 2022-03-21 Mar 21, 2022
PayPal Dear Dan Our Perspective on PayPal's Path Forward Mar 21, 2022
Accenture 2Q22: The Question of the Durability of Growth Mar 18, 2022
Wireless Q4 2021: The Industry Inflation Forgot Mar 17, 2022
AXP Investor Day: Never Let a Good Crisis Go to Waste Mar 17, 2022
PayPal: The Bad News, the Good News, and Our Perspective on the Path Forward Mar 16, 2022
2022-03-16 Michael Powell meeting notes Mar 16, 2022
Netflix: A Simple Question, What Is The TAM? Mar 15, 2022
Media Comps 2022-03-13 Mar 13, 2022
VG Comps 2022-03-13 Mar 13, 2022
Communications Infrastructure Comps 2022-03-13 Mar 13, 2022
Telecom Cable Satellite Comps 2022-03-13 Mar 13, 2022
Disney Dreams vs Reality What are Streaming Margins Conference Call 03-11-22 Mar 11, 2022
Take-Two: A Look at New Take-Two Mar 11, 2022
Fiber Bubble Conference Call Deck Mar 9, 2022
Cogent: Waiting for Godot, or Waiting for COVID to Go? Maintain Buy, Lower TP to $78 Mar 8, 2022
Visa, Mastercard: Adieu, Russia Mar 8, 2022
Disney: Dreams vs. Reality; What are Streaming Margins? Mar 7, 2022
VG Comps 2022-03-07 Mar 7, 2022
Media Comps 2022-03-07 Mar 7, 2022
Communications Infrastructure Comps 2022-03-07 Mar 7, 2022
Telecom Cable Satellite Comps 2022-03-07 Mar 7, 2022
DraftKings: The Big TAM vs. Profit Debate Rages On Mar 4, 2022
U.S. Broadband: Are We Witnessing a Fiber Bubble? Mar 4, 2022
Payments, Processors, and IT Services: 4Q21 Roundup – Updated Stock Preferences and Top Sector Themes (Slide Deck) Mar 3, 2022
Payments, Processors, and IT Services: 4Q21 Roundup – Updated Stock Preferences and Top Sector Themes Mar 2, 2022
VG Comps 2022-02-28 Feb 28, 2022
Media Comps 2022-02-28 Feb 28, 2022
Communications Infrastructure Comps 2022-02-28 Feb 28, 2022
Telecom Cable Satellite Comps 2022-02-28 Feb 28, 2022
SBA Q4 2021 Earnings: Can the Guide Get the Stock Moving? Feb 28, 2022
Crown Castle: Meeting with Dan Schlanger, CFO Feb 25, 2022
WPP: Wait for It? Feb 25, 2022
Coinbase 4Q21: The Crypto Bowl – Spotlight on Coinbase’s Competitive Position Feb 25, 2022
Cinemark: Box Office Beyond Masks & Capes? Feb 25, 2022
Block 4Q21: A Spotlight on Afterpay, the Newest Member of the Block Family Feb 25, 2022
Dish Network Q4’21 Earnings: What Kind of Story is This? Feb 24, 2022
American Tower Q4 2021 Earnings: Evaluating CoreSite in the Context of 2022 and Long Term Guidance Feb 24, 2022
Cogent Q4 2021 Earnings: Is a Post-Omicron Future Coming Into View? Feb 24, 2022
Discovery: Can WBD Compete on Streaming Without Winning the Spending War? Feb 24, 2022
Cable One Q4 2021 Earnings: Has CABO Finally Fallen to a Reasonable Valuation? Feb 24, 2022
Frontier Q4 2021 Earnings: The Long View Feb 23, 2022
DraftKings: Make the Money First, Then Get the Power Feb 22, 2022
Netflix: Another Look at Netflix’s Content Amortization Feb 22, 2022
VG Comps 2022-02-22 Feb 22, 2022
Media Comps 2022-02-22 Feb 22, 2022
Telecom Cable Satellite Comps 2022-02-22 Feb 22, 2022
Communications Infrastructure Comps 2022-02-22 Feb 22, 2022
Altice USA: Wrong Story, Wrong Time… Downgrading to Neutral, Target Price $15 Feb 18, 2022
Roku: Now You Know What You Have Bought Here Feb 18, 2022
Meta: Is It Time to Throw in the Virtual Towel? Feb 17, 2022
AMC Networks: Everything to Someone, Not Something for Everyone Feb 17, 2022
Digital Realty Q4 2021 Earnings: Will the Benefits of Portfolio Changes and Record Leasing Pay Off? Feb 17, 2022
FIS 4Q21: …And One Step Back Feb 16, 2022
Lumen: Time to Ease Off? Not Yet... Lower TP to $8, Maintain Sell Rating Feb 16, 2022
Paramount: New Name, Same Questions Feb 16, 2022
Altice USA Q4 2021 Earnings: Cable’s New Canary? Feb 16, 2022
Equinix Q4 2021 Earnings: A Mixed Outlook Against a Challenging Macro Backdrop Feb 16, 2022
CyrusOne Q4 2021 Earnings: Exiting on a High Note Feb 16, 2022
U.S. Video Games: Axie Inevitable - February 15, 2022 Feb 15, 2022
VG Comps 2022-02-14 Feb 14, 2022
Media Comps 2022-02-14 Feb 14, 2022
Communications Infrastructure Comps 2022-02-14 Feb 14, 2022
Telecom Cable Satellite Comps 2022-02-14 Feb 14, 2022
Interpublic: Do You Believe In…The Guide? Feb 11, 2022
Twitter: Stop Us If You Have Heard The One About… Feb 11, 2022
GPN 4Q21: Persistent Divergence – The Quandary of Merchant Solutions Revenues and Volumes Feb 11, 2022
AT&T: The After Math. Setting Our Post-Spin TP at $20 Feb 10, 2022
Disney: Meet the New Boss Feb 10, 2022
Omnicom: Do You Believe In Re-Ratings? Feb 9, 2022
Fiserv 4Q21: Ready, Fire, Aim Feb 9, 2022
Fox: A Better Way to Play Sports Betting? Feb 9, 2022
Lumen Q4 2021 Earnings: Interpreting a Year of Investment Feb 9, 2022
IBM: Model and Forecast Update to Reflect Revised Segment Reporting (ex-Kyndryl) Feb 8, 2022
Take-Two: Opportunity Costs Feb 8, 2022
VG Comps 2022-02-07 Feb 7, 2022
Media Comps 2022-02-07 Feb 7, 2022
Telecom Cable Satellite Comps 2022-02-07 Feb 7, 2022
Communications Infrastructure Comps 2022-02-07 Feb 7, 2022
Snap: Back To Reality Feb 4, 2022
Activision: Cover Fire Feb 4, 2022
Cognizant 4Q21: Can Cognizant Return to Double-Digit Growth? Implications of our Recent CIO Survey Feb 4, 2022
DXC 3Q22: Can Revenues Grow? Implications of our Recent CIO Survey for DXC Feb 4, 2022
Facebook: The Beginning of the End? Feb 3, 2022
Alphabet: Thesis Confirming From A to Z Feb 2, 2022
EA: Party of One? Feb 2, 2022
PYPL 4Q21: The Great Reset is Here. Is 20% Revenue Growth Still Viable? Feb 2, 2022
T-Mobile Q4 2021 Earnings: The Valuation Conundrum Feb 2, 2022
U.S. Media & Internet: What Should You Do Now? Jan 31, 2022
VG Comps 2022-01-31 Jan 31, 2022
Media Comps 2022-01-31 Jan 31, 2022
Communications Infrastructure Comps 2022-01-31 Jan 31, 2022
Telecom Cable Satellite Comps 2022-01-31 Jan 31, 2022
U.S. Online Gaming Conference Call 01-28-22 Jan 28, 2022
Mastercard 4Q21: A Top Pick for 2022, Our Scorecard for Success Jan 28, 2022
Visa 1Q22: Our Top Pick for 2022, Our Scorecard for Success Jan 28, 2022
Charter Q4’21 Earnings: Wireless Steps into the Spotlight Jan 28, 2022
ADP 2Q22: The Woes of Great Expectations Jan 27, 2022
Comcast Q4 2021 Earnings: Five Questions… Three Answers Jan 27, 2022
AXP 4Q21: Have We Mentioned How Much We Love the Payment Networks in 2022? Jan 26, 2022
AT&T Q4 2021 Earnings: To Split or to Spin, That is the Question Jan 26, 2022
Crown Castle Q4 2021 Earnings: Dawn of a New Era? Jan 26, 2022
U.S. Online Gaming: A Sure Bet for the Media Industry, But Who Else? Lowering DKNG Price Target to $23 Jan 25, 2022
IBM 4Q21: With Strong Demand and No More Kyndryl, Revenues are Improving… Can Profits and FCF Follow? Jan 25, 2022
Verizon Q4 2021 Earnings: Is There a Growth Story Here? Jan 25, 2022