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Roku Gets Upgraded As It Accelerates Its Growth

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Roku Devices

Roku, Inc. (NASDAQ: ROKU) seems to be back to climbing up after yesterday’s analyst rating, when Macquarie rated the company from neutral to outperform with a minimum target of $130. This comes after Oppenheimer announced at the end of September to keep the outperform rating despite the drop in September and raised the price target to $155. As Roku is approaching its quarter earnings results that are due in November, it’s definitely a company to keep a close eye on as they have constantly been beating analyst expectations. The company also announced this week the launch of new products in a partnership with Walmart (NYSE: WMT) and the expansion of its program into Europe where it will challenge Netflix’s (NASDAQ:NFLX) streaming dominance. So, a lot of exciting events for Roku.

Measurement program

One year ago, yesterday, Roku announced a Measurement Partner Program to help brands and publishers quantify the impact and consequently, outcome of advertising campaigns running on its platform. Working with such data and integrating it within the company’s decision-making process can only contribute to the company’s bottom line. Last month, Roku further perfected its measurement tools to TV so it can measure and understand their daily demographic reach across the platform and Linear TV.

Truly a Data-Driven Company

With eleven partners being in the program, each measures a specific part of the marketing funnel such as audience demographics, brand awareness, store visits, website visits and sales increases. Now, with the help of Innovid, Roku can use unique datasets matching 30.5 million active accounts (as measured on June 30,) with Innovid’s OTT ad serving footprint across over 75 million households. They are expected to provide valuable insights to marketers so they can better allocate advertising space they purchased both from Roku and other publishers without any additional integrations. And this is why a data-driven culture is more than just hiring Data Specialists. It’s about using the data, knowing how to interpret it and actually integrating the insights it provides to finely tune day-to-day operations. It’s about placing data at the heart of almost every single important business decision.

Partnership with Walmart

Roku and Walmart have worked together for years to enhance the entertainment experience for millions of people who have purchased the company’s TV models and streaming players. But now, they are launching a new category of audio and streaming products and just in time for the holiday season. As always, that are easy to use and come at an incredible value for money. So better sound and better TV experience at a great price.” With the huge market reach of Walmart, this exclusive partnership can only further boost Roku’s growth.

September- Investors choosing Roku over Netflix

TD Ameritrade chief market strategist JJ Kinahan joined CNBC’s “Closing Bell” last Monday and reported that investors are choosing Roku shares over Netflix. Kinahan further implied that the stock movement is showing that investors went from wanting to own the “producer of the content’ to “provider of the content”. Disney (NYSE:DIS) is both the producer and distributer which could explain why many are betting on the company driving its share price up.

Disney, Amazon and Netflix dispute – a hidden opportunity for Roku?

Moreover, Disney and Amazon (NASDAQ: AMZN) are reportedly arguing over ad space in Disney apps. The report by WSJ suggests that the current talks could lead to Disney pulling out. One report is optimistic that they will reach an agreement before Disney+’s November 12 launch to provide availability on over 37 million Fire TV devices. Yet another report says that Disney no longer finds the relationship with Netflix mutually beneficial and might no longer allow Netflix to advertise its content since it is not allowed to the same on Netflix. Disney’s channels are still advertising other platforms such as Apple TV+. This might be all good news for Roku, and who knows, if Disney makes an inquiry it could leave Amazon even more behind.

Outlook

Roku pioneered streaming to the TV and everyone’s excited about the new capabilities Roku and Innovid are bringing to the market. Roku is definitely investing in efforts to help brands and publishers quantify the impact of advertising campaigns on its platform. Learning from its data is a sure strategy to drive measurable results and Roku is clearly showing it is a real data-driven company. One thing is for sure, Roku’s actions throughout last month are only further accelerating its growth.

This article is contributed by IAMNewswire.com. It was written by an independently verified journalist and is not a press release. It should not be construed as investment advice.

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BenzingaEditorial

EV News

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Europe’s EV market is leaving the United States in its dust. According to a recent report obtained by Bloomberg News that is scheduled to be published next week, the European Commission seeks to have at least 30 million EVs on its roads by the end of the decade. This ambitious plan would require stricter emission regulations and the auto industry to massively accelerate its transformation.

At the moment, approximately 1.4 million EVs are being driven in Europe, according to BloombergNEF. Therefore, this research is forecasting there will be 28 million plug-in hybrid and battery-electric vehicles on the road by 2028. But, it’s no secret that young and old-school automakers are gearing up for the race with December being the month that the EV pioneer Tesla (NASDAQ: TSLA) will finally be included in the S&P 500.

Germany’s EV market is poised to overtake California’s

Until the end of September, Germany registered 98,370 battery-powered cars this year, according to a report by Berlin-based Schmidt Automotive Research. California is significantly behind with 73,166, as growth has slowed this year. Meanwhile, growth in Germany has been fueled by aggressive subsidies of up to 9,000 euros per car, as reported by Bloomberg News. But this is great news for Tesla who is Berlin Gigafactory Berlin is set to open in 2021 with an annual target capacity of building 500,000 vehicles annually, which is greater than its total 2019 sales. But Tesla’s entry in the backyard of automotive legends has not gone unnoticed as Volkswagen Group’s (OTC: VWAGY) CEO Herbert Diess revealed its plans is to become, on the technological basis, competitive with Tesla. The German giant has committed last month to launch approximately 70 all-electric vehicles by 2030, of which 20 are already in production.

Hyundai revealed a modular EV-only platform

By now, automakers have come to the realization that shoving electric vehicle parts into ICE built vehicles won’t do the trick. For this reason, the industry leader, Tesla, designs its own motors. Same goes for the EV startup, Lucid Motors, who just finished the first phase of its $700 million EV factory in Arizona as it invested heavily to follow Tesla’s footprints. With that in mind, Hyundai is the latest automaker to introduce an EV-only platform. It also revealed it will produce 23 battery-electric vehicles by 2025. The new Electric-Global Modular Platform (E-GMP), which stands for “Electric-Global Modular”, will be the underpinning of Hyundai and Kia’s electric future beginning next year.

The first vehicle will be the Hyundai Ioniq 5that we’ve so far only seen in concept form. Hyundai didn’t share details on battery pack size on Wednesday, but revaled that the EVs will come with a 500 kilometres driving range.

The race is just getting started

The global electric vehicle market has evolved immensely over the past decade. But even though we’ve already seen some incredible growth across the globe, these developments and industry predictions suggest that we’ve only seen a trailer of the EV blockbuster that will take place across the globe.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

EV Updates – Europe and China Are Going Full Speed Ahead

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Europe’s EV market is leaving the United States in its dust. According to a recent report obtained by Bloomberg News that is scheduled to be published next week, the European Commission seeks to have at least 30 million EVs on its roads by the end of the decade. This ambitious plan would require stricter emission regulations and the auto industry to massively accelerate its transformation.

At the moment, approximately 1.4 million EVs are being driven in Europe, according to BloombergNEF. Therefore, this research is forecasting there will be 28 million plug-in hybrid and battery-electric vehicles on the road by 2028. But, it’s no secret that young and old-school automakers are gearing up for the race with December being the month that the EV pioneer Tesla (NASDAQ: TSLA) will finally be included in the S&P 500.

Germany’s EV market is poised to overtake California’s

Until the end of September, Germany registered 98,370 battery-powered cars this year, according to a report by Berlin-based Schmidt Automotive Research. California is significantly behind with 73,166, as growth has slowed this year. Meanwhile, growth in Germany has been fueled by aggressive subsidies of up to 9,000 euros per car, as reported by Bloomberg News. But this is great news for Tesla who is Berlin Gigafactory Berlin is set to open in 2021 with an annual target capacity of building 500,000 vehicles annually, which is greater than its total 2019 sales. But Tesla’s entry in the backyard of automotive legends has not gone unnoticed as Volkswagen Group’s (OTC: VWAGY) CEO Herbert Diess revealed its plans is to become, on the technological basis, competitive with Tesla. The German giant has committed last month to launch approximately 70 all-electric vehicles by 2030, of which 20 are already in production.

Hyundai revealed a modular EV-only platform

By now, automakers have come to the realization that shoving electric vehicle parts into ICE built vehicles won’t do the trick. For this reason, the industry leader, Tesla, designs its own motors. Same goes for the EV startup, Lucid Motors, who just finished the first phase of its $700 million EV factory in Arizona as it invested heavily to follow Tesla’s footprints. With that in mind, Hyundai is the latest automaker to introduce an EV-only platform. It also revealed it will produce 23 battery-electric vehicles by 2025. The new Electric-Global Modular Platform (E-GMP), which stands for “Electric-Global Modular”, will be the underpinning of Hyundai and Kia’s electric future beginning next year.

The first vehicle will be the Hyundai Ioniq 5that we’ve so far only seen in concept form. Hyundai didn’t share details on battery pack size on Wednesday, but revaled that the EVs will come with a 500 kilometres driving range.

The race is just getting started

The global electric vehicle market has evolved immensely over the past decade. But even though we’ve already seen some incredible growth across the globe, these developments and industry predictions suggest that we’ve only seen a trailer of the EV blockbuster that will take place across the globe.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Snowflake Is Keeping The Magic Alive

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Snowflake Inc’s (NYSE: SNOW) September magic will go down in history as the world’s hottest software IPO. When Snowflake announced its public debut, the demand for its shares was far higher than the supply. It seems that it still is. The initial share price expectation was between $75 and $85. However, the company went public at $120 a share, and it skyrocketed to an amazing $300 on its first day of trading, breaking the record and becoming the largest company to ever double its value on its opening day. This is how Snowflake’s blockbuster debut became the largest software IPO on record.

One of Snowflake’s key innovations in keeping the data storage separate from computing, allowing the businesses to get insights from the stored data. Snowflake came out with this service before Microsoft (NASDAQ: MSFT), Amazon.com (NASDAQ: AMZN), and Google (NASDAQ: GOOG) offered their equivalent products, making it easier for Snowflake to grab a part of the data warehousing market.

Snowflake’s earnings report

Snowflake’s revenues jumped 119% to $159.6 million in the fiscal third quarter which ended October 31st. Revenue growth in the previous quarter was 121%. There is an improvement in the segment of losses – in the year-ago quarter, losses were $1.92 per share, whereas this time around, the company showed a loss of $1.01 per share. The company also reported an adjusted loss of 62 cents per share. Although the earnings report pulled down the share price by 16.1%, with the closing price that day at $339.89, we cannot forget that the company went public with a share price of $120.

Microsoft’s answer

The cloud data management service market is expected to be worth around $13 billion next year. Amazon has been improving its AWS cloud unit so it’s not only Snowflake who has the answer for more and more customers trying to understand all the data and information stored in the cloud and corporate data centers. Microsoft also decided to take on Snowflake and Amazon by unveiling another product designed to enable companies to analyze and keep track of data. Azure Synapse Analytics tool is already used by companies like ABN AMRO Bank N.V. (OTC: ABN.AS), Wolters Kluwer N.V. (OTC: WKL.VI), FedEx Corporation (NYSE: FDX), and The Procter & Gamble Company (NYSE: PG).

Outlook

Snowflake’s management was satisfied with the company’s performance in its first quarter as a public company. Forecasted revenues for the quarter ending in January are within a range between $162 million and $167 million. As many businesses are increasingly shifting their activities to the cloud, the demand for warehousing solutions, like Snowflake’s, will stay high, and it is safe to say that more growth is ahead of us. Having in mind that the demand is expected to increase, the cloud data management service market should follow suit. Therefore, Snowflake’s expectation to generate revenues of $540 million in fiscal 2021 seems doable.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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