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Roku's Got More to Go; Analysts Boost Price Target

Published 10/08/2020, 10:54 AM
Updated 10/08/2020, 10:56 AM
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By Christiana Sciaudone

Investing.com --   Roku (NASDAQ:ROKU) rose 4.2% on Thursday after getting price target hikes from two firms. 

Needham & Company bumped its price target to a Street-high $255 from $190, and kept a buy rating on the stock. Analyst Laura Martin said she sees upside for the third quarter, StreetInsider reported.

Among the reasons, Martin cites Roku's fast-growing installed base driving higher monetization; ad-driven videos taking share from subscription-based videos on subscription fatigue; and the acceleration of over-the-top media services, or streaming services. 

Meanwhile, Deutsche Bank (DE:DBKGn) raised the price target on Roku to $235 from $185 while maintaining a buy rating, StreetInsider reported. 

Shares of Roku are up 65% since the start of 2020 as we all hunker down at home, bored to tears The stock currently trades around $221.15.

 

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