#6 - Roku (NASDAQ:ROKU)
Roku (NASDAQ:ROKU) is not a pure-play IoT stock. Nevertheless, it’s well worth your consideration, especially for those looking for stocks to hold over the long haul. The reason is this. There are a lot of companies that are competing in the streaming wars. But if consumers have a Roku TV or Roku stick, the company benefits no matter which one of the streaming services the user chooses.
Roku is the leader in this over-the-top (OTT) media sector. In fact, they currently claim about 40% of the market. And their market share is likely to increase even as the pandemic ends.
And Roku is not settling for hosting other carriers content. The company is beginning to produce its own original content for its Roku channel. This will give users another option if they simply can’t find anything to watch on Netflix (NASDAQ:NFLX).
ROKU stock is up 232% in the last 12 months and is up 15% year to date.
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)
