#6 - Roku (NASDAQ:ROKU)
If Netflix and other streaming services are the locks, Roku (NASDAQ:ROKU) serves as the key. Roku is benefiting from the movement towards streaming content. As more and more consumers cut the cord, they turn to Roku devices to help them access their streaming services.
The growth in Roku has had a snowball effect. As Roku continues to grow its active user base, it begins to attract more content providers. In addition to Netflix, Disney, Apple (NASDAQ:AAPL), and Amazon (NASDAQ:AMZN), the company has recently signed Comcast’s (NASDAQ:CMSCA) NBC Universal’s Peacock service. Plus, Peloton (NASDAQ:PTON) is also taking advantage of this opportunity to put its fitness app on the platform.
And if you think that all the noise about social media companies is just noise, think again. Roku saw an eye-popping 346% YOY increase in its performance advertising business as marketers began to take a closer look at their social media spending.
ROKU stock is up nearly 60% for the year as of this writing.
About Roku
Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.
Read More - Current Price
- $69.20
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $84.14 (21.6% Upside)
