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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.
