Why Roku Stock Blasted Nearly 9% Higher on Friday
A pair of analyst price-target increases capped a winning week for the shares of (NASDAQ: ROKU) on Friday when the streaming video platform gained 9% in reaction to those moves. By contrast, the S 500 index could only muster a 0.9% improvement.
The two prognosticators behind the Roku raises were Truist's Matthew Thornton and Citigroup's Jason Bazinet. Thornton upped his price target to $75 per share from $70, and Bazinet added $2 to his for a new level of $80. Both maintained their equivalents of hold recommendations.
In explaining his move, Thornton provided four main reasons. Among these is his belief that the quarter was "well ahead across the board" for Roku's business. He was also encouraged that the company's fourth-quarter guidance tracks or exceeds his current estimates, and that it is making some progress on cost efficiencies while focusing more on free cash flow.
Source Fool.com
Roku Stock
Our community is currently high on Roku with 29 Buy predictions and 7 Sell predictions.
As a result the target price of 93 € shows a very positive potential of 72.86% compared to the current price of 53.8 € for Roku.
