Roku Inc (ROKU): Reason for Today's Move: Roku upg...

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DrHarleyboy

Re: None

Wednesday, 10/09/2019 11:20:08 AM

Wednesday, October 09, 2019 11:20:08 AM

Reason for Today's Move:

Roku upgraded at Macquarie as user base could triple by 2022

Roku (NASDAQ:ROKU) +3.6% pre-market after Macquarie upgrades shares to Outperform from Neutral with a $130 price target, raised from $110, saying the stock is set to triple over the next three years.

"Roku has built a leading position in the U.S., and we believe its devices will find a ready market abroad," as the shift to connected television viewing that is occurring in the U.S. will follow internationally in the coming years, says Macquarie analyst Timothy Nollen.

Roku can grow its user base by 2x-3x to more than 70M active accounts by 2022 from 31M currently, which are mostly in the U.S., Nollen says, adding that 72M subscribers by 2022 could drive Platform revenue to $2.3B and overall revenue of $2.7B, nearly triple 2019 guidance.

Roku's average Sell Side Rating is Outperform while its Seeking Alpha Authors Rating is Neutral.

https://seekingalpha.com/news/3504686-roku-upgraded-macquarie-user-base-triple-2022

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