Shares of Roku (NASDAQ: ROKU) are jumping today, up by 13% as of 11:30 a.m. EST, on continued positive momentum from the company's first public earnings release on Wednesday. Street analysts are becoming increasingly bullish while shorts may potentially be getting squeezed out as well.
Roku has done a good job emphasizing its platform business as the driving narrative for investors, and the results easily supported the growth story. Active accounts and hours streamed put up strong gains, jumping to 16.7 million accounts and 3.8 billion hours, respectively. Needham analyst Laura Martin also boosted her price target on Roku to $28 following the results, according to Barron's. Shares have traded as high as $33.64 today as of this writing.
Image source: Roku.
Source: Fool.com