MoffettNathanson
MoffettNathanson is a New York-based independent equity research publisher covering technology, media and telecommunications. It sells research to institutional clients by subscription. Institutional Investor ranked it America's No. 1 independent research firm in 2022.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1912M
- Actions
- 3212M
- Ratings / Price targets
- 9 / 23
- Upgrades / Downgrades
- 1 / 1
- Initiations
- 1
- Buy-rated
- 38%of 8 rated
- Median upside
- +11.4%
- Targets raised / lowered
- 8 / 5
- On record
- Jun 2013 – Sep 2026
Overview
MoffettNathanson covers media, internet and e-commerce, telecommunications, digital and telecom infrastructure, online sports betting and video games, distributing research to a select client base by subscription rather than through trading commissions. In December 2025 it formed a U.S. equity research alliance with Santander's U.S. broker-dealer.
Founded in 2013 by the two analysts whose names it bears, with three founding sales partners, MoffettNathanson helped develop the subscription model for paying for research. SVB Financial Group acquired it in December 2021 to extend SVB Securities' research into technology. It was excluded from the October 2023 management buyout of SVB Securities, and since SVB Financial Group's Chapter 11 plan took effect in November 2024 it has been owned through MNSN Holdings Inc.
Milestones
- 2013
Founded in New York as independent TMT research firm
- 2021
Acquired by SVB Financial Group
- 2022
Ranked No. 1 U.S. independent research firm by Institutional Investor
- 2023
Retained by SVB Financial Group after SVB Securities buyout
- 2024
Ownership passes to MNSN Holdings under SVBFG reorganization
- 2025
U.S. equity research alliance with Santander announced
Firm facts
- Type
- Independent research
- Founded
- 2013
- Headquarters
- New York, United States
- Parent
- MNSN Holdings Inc.
- Rating scale
- BuyNeutralSell12 months
- Also filed as
- Moffett Nathanson
- Website
- moffettnathanson.com
Research philosophy
Now more than ever, what our clients really need and want is insight into the whole value chain, and the way the pieces of the puzzle fit together.
MoffettNathanson's founders previously worked together at Bernstein, covering media content and distribution. At the firm's launch in 2013, they emphasized research into the connections between these industries. In 2023, Craig Moffett described research as the firm's priority and argued that a higher cost of capital demanded more rigorous analysis of companies' current and future returns.
Rating methodology
Ratings are Buy, Neutral and Sell, with investment horizons of typically one year.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Apple Inc.AAPL | Neutral | $304 |
 Chewy, Inc.CHWY | Buy | $28 |
 Roku, Inc.ROKU | Sell | $100 |
 Space Exploration Technologies Corp.SPCX | Neutral | $142 |
 Cinemark Holdings, Inc.CNK | Buy | $40 |
 The Trade Desk, Inc.TTD | — | $6 |
 CoreWeave, Inc. Class A Common StockCRWV | Neutral | $92 |
 Alphabet Inc.GOOGL | Buy | $295 |
 Netflix, Inc.NFLX | Buy | $1,150 |
 Omnicom Group Inc.OMC | Neutral | $85 |
Most active analysts
- Michael Nathanson7 notesROKUTTDDIS
- Robert Fishman5 notesCNKLYVNFLX
- Clay Griffin4 notesRBLXSIRISPOT
- Craig Moffett1 notesAAPL
- Nick Del Deo1 notesCRWV
- Julie Zhu1 notesSPCX
Recent actions
| Date | Stock | Rating action | Rating | Target | Analyst |
|---|---|---|---|---|---|
| Sep 14 | Space Exploration Technologies Corp.SPCX | Reiterate | Neutral | $131 →$142 | |
| Sep 8 | Apple Inc.AAPL | Reiterate | Neutral | $225 →$304 | |
| Aug 7 | The Trade Desk, Inc.TTD | Target | $32 →$6 | ||
| Aug 3 |  Roblox CorporationRBLX | Reiterate | Neutral | $26 →$40 | Clay Griffin |
| Jul 30 | Cinemark Holdings, Inc.CNK | Reiterate | Buy | $30 →$40 | Robert Fishman |
| Jul 29 | Omnicom Group Inc.OMC | Reiterate | Neutral | $85 | Michael Nathanson |
| Jul 7 | Space Exploration Technologies Corp.SPCX | Target | $131 | Julie Zhu |