Cannonball Research
Cannonball Research is an independent equity research firm in New York covering advertising technology, connected TV and digital media stocks for institutional clients. It is not a registered broker-dealer or investment adviser and has no other business lines.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 212M
- Actions
- 312M
- Ratings / Price targets
- 1 / 2
- Upgrades / Downgrades
- 0 / 1
- Buy-rated
- 0%of 1 rated
- Median upside
- +24.6%
- On record
- Apr 2021 – Aug 2026
Overview
Coverage centres on advertising technology, connected TV and online media, including Magnite, AppLovin, Reddit, DoubleVerify and Liftoff as of 2026, with initiation reports, first-look earnings notes and model updates. As of 2026, Cannonball hosts virtual non-deal roadshows with executives of companies it covers.
Vasily Karasyov founded Cannonball Research in New York in 2018. He began his equity research career in 2006 and later covered US media at Susquehanna International Group from 2011, Sterne Agee from 2013 and CLSA Americas from 2015 to 2017. The firm uses the Analyst Hub platform for distribution, compliance and back-office services.
Milestones
- 2018
Founded in New York as an independent research firm
Firm facts
- Legal name
- Cannonball Research, LLC
- Type
- Independent research
- Founded
- 2018
- Headquarters
- New York, United States
- Founder and Senior Analyst
- Vasily Karasyov
- Rating scale
- BuyNeutralSell12 months
- Website
- cannonballresearch.com
Research philosophy
We provide company-specific research as well as in depth analysis of the global media and entertainment industry trends and their implications for stock prices.
Cannonball's recommendations often focus on where company results could differ from market expectations. Examples include margin potential that is "not yet fully appreciated by the Street" or a product launch that could prompt investors to assign a higher valuation. It also publishes industry research, including its own estimates of connected TV advertising spending.
Rating methodology
Over a 12-month horizon, Buy indicates an expected price increase of at least 15%, Neutral a move of less than 15% in either direction, and Sell a decline of at least 15%.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 The Trade Desk, Inc.TTD | Neutral | $15 |
 Unity Software Inc.U | — | $54 |
Most active analysts
- Vasily Karasyov1 notesTTD
Recent actions
| Date | Stock | Rating action | Rating | Target | Analyst |
|---|---|---|---|---|---|
| Aug 7 | The Trade Desk, Inc.TTD | Downgrade | Neutral | $15 | Vasily Karasyov |
| Nov 20, 2025 | Unity Software Inc.U | Target | $54 | ||
| Aug 6, 2024 |  Reddit, Inc.RDDT | Target | $67 | Vasily Karasyov | |
| Jun 3, 2024 | MGMagnite, Inc.MGNI | Target | $17 | Vasily Karasyov | |
| Nov 27, 2023 |  Roku, Inc.ROKU | Upgrade | Neutral →Buy | ||
| Jun 5, 2023 | MGMagnite, Inc.MGNI | Downgrade | Buy →Neutral | ||
| Nov 4, 2022 | Roku, Inc.ROKU | Downgrade | Buy →Neutral | ||
| Sep 2, 2022 | NYThe New York Times CompanyNYT | Downgrade | Buy →Neutral | ||
| Jun 22, 2022 | NYThe New York Times CompanyNYT | Downgrade | Buy →Neutral | ||
| Jan 10, 2022 |  AppLovin CorporationAPP | Target | $107 | Vasily Karasyov | |
| Nov 22, 2021 | DVDoubleVerify Holdings, Inc.DV | Reiterate | Buy |