3 Reasons Roku Shares Could Still Climb Higher
Shares of Roku (NASDAQ: ROKU) have soared in recent weeks, quickly approaching the all-time highs the stock reached last year. While Roku has seen an influx of video-streaming activity on its platform amid the COVID-19 pandemic, it's also facing a significant downturn in ad spending, which makes up the bulk of its platform revenue.
But there are three big factors that should produce strong results for Roku and keep the stock climbing. Benchmark analyst Daniel Kurnos recently pointed out two of them -- recovering ad sales and relatively weak competition -- in a note to investors in which he increased his price target for the stock to $180. The third factor -- Roku's becoming a leading distribution platform -- may have even greater importance to the company and its investors in the long term.
Image source: Roku.
Source Fool.com
