Connected TV platforms are capturing an increasing share of political advertising dollars in the 2024 cycle. The Kamala Harris campaign said it's reserved $200 million worth of ad space across connected TV and streaming platforms, like Hulu, Roku and Pandora.
Roku is facilitating the growth of streaming content viewership internationally.
Roku (ROKU) shares popped Friday after Guggenheim analysts reportedly upgraded the stock to "buy" from "neutral."
Roku, Inc. ROKU shares are trading higher on Friday.
Roku stock got an upgrade and a higher price point from a Wall Street analyst. The streaming pioneer made an important move earlier this month that could act as a catalyst.
Michael Morris, Guggenheim senior managing director and equity analyst, joins 'Money Movers' to discuss Roku as the stock receives a buy upgrade from Guggenheim.
Roku Inc (NASDAQ:ROKU) is up 9.1% to trade at $67.44 this morning, on track for its best single-session gain since November.
Guggenheim Securities upgraded Roku's rating to “Buy” from “Neutral” on Friday, with a new price target of $75, signaling a potential upside of 21.4% from the current trading price. Following this upgrade, Roku's shares were up by 4% in pre-market trading.
Roku stock has had a good run of late, rising by about 10% over the last five trading days. The stock also remains up by about 14% since its Q2 2024 earnings were published earlier this month.
ROKU's strong user base and platform leadership make the stock worth a watch despite significant hurdles in maintaining profitability and market share.
Block is a high-powered growth stock with a mix of modest and soaring valuation ratios. Roku's stock has fallen 87% from its all-time highs, but is still growing in a large global market.
Zacks.com users have recently been watching Roku (ROKU) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.