Scotia comment
From this A.M.:
We believe valuation is attractive, at 2.3 X revenue and 9.4 X gross profit based on its growth profile and margin expansion potential. Our target implies 5.6 X revenue and 21 X Gross profit basedd on our thesis of multiple expansion as the company continues to drive profitable growth with direct advertising and subscription. Our target price does not include any forecast for Project GG. We maintain our $9.75 target price and Sector Outperform rating.