Oppenheimer analyst Jason Helfstein upgraded Roku Inc (NASDAQ: ROKU) to Buy yesterday and set a price target of $50. The company’s shares closed yesterday at $43.29.
Helfstein commented:
“Following a 10% decline from its recent high, we are upgrading and establishing a $50 price target. We believe The Roku Channel is 0.63% of domestic time-spent on Roku’s platform or the 12th most-watched app by viewing hours, which represents a 9M hour monthly run-rate only nine months post- launch. The rapid adoption of The Roku Channel gives us incremental confidence in the channel’s ability to garner viewership on other platforms, such as Samsung, allowing Roku to monetize a broader portion of the OTT ecosystem than we had previously assumed was possible. We value the core platform at $44/share and the off-platform Roku Channel opportunity at $7/share on a long-term DCF analysis, together implying 18% upside.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 19.5% and a 68.0% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and IAC/InterActiveCorp.
Roku Inc has an analyst consensus of Moderate Buy, with a price target consensus of $42.83.
See today’s analyst top recommended stocks >>
The company has a one-year high of $58.80 and a one-year low of $15.75. Currently, Roku Inc has an average volume of 6.81M.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Roku Inc. engages in the provision of a streaming platform for television. It operates through the following business segments: Player and Platform. The Player segment consists of net sales of streaming media players and accessories through retailers and distributors, as well as directly to customers through the company’s website.
Read More on ROKU:
