Why Roku Stock Jumped Higher Again Today

Shares of Roku (NASDAQ: ROKU) were up 2% as of 9:35 a.m. EDT on Thursday after Rosenblatt securities analyst Mark Zgutowicz reiterated a buy rating on the stock with a $560 price target. That represents significant upside compared to the current quote of $325.

The gains follow a 5.6% surge on Wednesday after Roku released its annual streaming survey, The Streaming Decade, that declared "TV streaming has passed a tipping point."

Dovetailing with that report, Zgutowicz believes Roku has solid momentum right now, which should result in "strong platform revenue and gross margin" performance when the company reports earnings results in November.

Source Fool.com