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    Matthew Thornton

    Managing Director and Senior Equity Research Analyst at FBN Securities

    Matthew Thornton is a Managing Director and Senior Equity Research Analyst at FBN Securities, specializing in media, entertainment, and technology sectors. He covers major companies such as Netflix, consistently providing high-conviction investment analysis, recently initiating Netflix with an Outperform rating and a price target of $1165, while maintaining a strong track record recognized by platforms like TipRanks for accurate calls and solid returns. Thornton began his career in equity research in the early 2000s, holding previous roles at firms including SunTrust Robinson Humphrey and Sidoti before joining FBN Securities, and is known for his expertise and sector leadership. He holds FINRA securities licenses and registrations commonly required for senior analysts, underscoring his professional credentials.

    Matthew Thornton's questions to AppLovin (APP) leadership

    Matthew Thornton's questions to AppLovin (APP) leadership • Q1 2025

    Question

    Matthew Thornton from FBN Securities asked whether initiatives like non-gaming app acquisition and dynamic ad creative would contribute in 2025 or 2026, and if the non-gaming business is still expected to be 10%+ of ad revenue. He also followed up on whether the gaming and e-commerce models improve independently.

    Answer

    Executive Adam Foroughi clarified that 2025's focus is on executing current priorities to ensure strong growth in 2026 and beyond. An executive added that the web business could exceed 10% of revenue this year. Foroughi also confirmed the gaming and e-commerce models are separate and improve independently. The e-commerce model is much earlier in its lifecycle and has significant room for improvement through both directed enhancements and a growing data feedback loop.

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    Matthew Thornton's questions to ROKU (ROKU) leadership

    Matthew Thornton's questions to ROKU (ROKU) leadership • Q1 2025

    Question

    Matthew Thornton asked if the Frndly TV acquisition was included in the full-year guidance and inquired about the company's assumptions regarding tariffs and its ability to shift production.

    Answer

    CFO Dan Jedda confirmed that the Frndly acquisition was one of several initiatives already factored into the full-year guidance. President of Devices, Mustafa Ozgen, stated that due to a diversified manufacturing strategy, they do not anticipate a material impact from current tariffs on devices gross profit for the year. CEO Anthony Wood added that Roku's large household penetration protects its market share even if overall TV unit sales soften.

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