Needham & Company Starts CuriosityStream Inc. (CURI) at Buy

Needham & Company analyst Laura Martin initiates coverage on CuriosityStream Inc. (NASDAQ: CURI) with a Buy rating and a price target of $25.00.

The analyst comments "We initiate coverage of Curiosity Stream (CURI) at a Buy rating and a $25 price target. CURI participates in the accelerating trend toward streaming, and is the industry leader in creating and aggregating factual content (ie, science, history, nature, etc). CURI maximizes its revenue per content hour produced by generating revenue from both the streaming and linear TV ecosystems. Additionally, multi-year contracts represent 2/3 of CURI's total revenue. Even excluding those, churn in CURI's DTC businesses (1/3 of 2020E revenue) was only 2.6%/month, the lowest in our streaming coverage. By implication, CURI has all the growth upside associated with streaming, but at a much lower risk profile, we believe. CURI is valued at 8.4x our 2022E revenue estimate, a meaningful discount to other streaming companies we cover."

For an analyst ratings summary and ratings history on CuriosityStream Inc. click here. For more ratings news on CuriosityStream Inc. click here.

Shares of CuriosityStream Inc. closed at $18.63 yesterday.

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