Royal Bank of Canada Unveils RBCx for Tech Firms

The second-largest bank in Canada, Royal Bank of Canada (RY), unveiled RBCx on Tuesday, a full-service platform that aims to boost technology companies' growth at every stage. RBCx will grant access to Read More... The post Royal Bank of Canada Unveils RBCx for Tech Firms appeared first on TipRanks Financial Blog.

Royal Bank of Canada Unveils RBCx for Tech Firms

The second-largest bank in Canada, Royal Bank of Canada (RY), unveiled RBCx on Tuesday, a full-service platform that aims to boost technology companies' growth at every stage. RBCx will grant access to capital solutions, advisory services, and innovative products, from company formation to IPO and beyond. 

RBCx Head Sid Paquette said, “Now more than ever, entrepreneurs need committed partners to help them navigate the hardest pain points of scaling a technology business. Created by one of Canada's largest banks, RBCx is re-imagining how we can create meaningful value for our technology clients. In addition to a specialized banking platform, RBCx clients will have access to our market partnerships, innovative capital solutions, specialized operational talent and advice, and RBC's multifaceted global footprint at their fingertips. We could not be more excited to embark on this journey and to be a meaningful partner for entrepreneurs." 

Specialists from the venture capital and tech finance sectors are joining the RBCx team. Among them are Tony Barkett and Tyler Kirk, who held senior executive positions in Canada and the U.S. at a global financial institution specializing in innovation financing and technology. (See Royal Bank of Canada stock analysis on TipRanks) 

On Tuesday, National Bank Financial analyst Gabriel Dechaine kept a Buy rating on RY while raising the price target to C$140 (from C$137). This implies 10% upside potential. 

The rest of the Street is cautiously optimistic on RY with a Moderate Buy consensus rating based on 6 Buys and 3 Holds. The RY average analyst price target of C$134.29 implies 5.5% upside potential to current levels. 

TipRanks’ Smart Score 

RY scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.  

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The post Royal Bank of Canada Unveils RBCx for Tech Firms appeared first on TipRanks Financial Blog.

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Vizio Offers One-Time Equity Grant; Analyst Slashes EPS Forecast

Vizio Holding Corp. (VZIO), a provider of smart televisions, sound bars, and accessories, announced the offering of a one-time equity grant to senior executives that vested over one year. Shares spiked Read More... The post Vizio Offers One-Time Equity Grant; Analyst Slashes EPS Forecast appeared first on TipRanks Financial Blog.

Vizio Offers One-Time Equity Grant; Analyst Slashes EPS Forecast

Vizio Holding Corp. (VZIO), a provider of smart televisions, sound bars, and accessories, announced the offering of a one-time equity grant to senior executives that vested over one year. Shares spiked around 18% to reach an intraday high of $27.62 on June 15. (See Vizio stock analysis on TipRanks)

So, What Happened?

Following the news, Needham analyst Laura Martin raised the company’s second-quarter revenue and EBITDA estimates but slashed the EPS estimates.

Martin cited the following reasons for the revisions, “Stronger average selling pricing for devices, reflecting price increases across the industry as well as fewer promotions y/y; and A 1x equity grant to senior execs that vested over a 1-year period, resulting in higher SBC costs.”

The analyst now expects Vizio’s Q2 revenue and adjusted EBITDA to be $407.4 million and $13.8 million, respectively.

She estimates a second-quarter loss of $0.14 per share, much higher than the earlier estimated loss of $0.07 per share.  

For the full Fiscal year 2021, revenue and adjusted EBITDA are pegged at $2.28 billion and $74 million, respectively.

Also, the FY21 adjusted loss is pegged at $0.44 per share, 76% below the previous estimate.

In the previous quarter, the company reported revenues of $505.7 million, surpassing the Street’s estimate of $484.07 million. Adjusted earnings came in at $0.02 per share, while analysts had estimated a loss of $0.10 per share.

Martin assigned a Buy rating to the stock and said, "Vizio represents a pure-play way to play Connected TV (CTV) advertising growth, coupled with platform economics upside, in our view.”

The analyst set a price target of $30 for the stock, which implies 28.5% upside potential to current levels.  

The Wall Street community has a Strong Buy consensus rating on the stock based on 7 unanimous Buys. The VZIO average analyst price target of $30.29 implies 29.7% upside potential to current levels. Shares have gained 22.3% over the past six months.

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The post Vizio Offers One-Time Equity Grant; Analyst Slashes EPS Forecast appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

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