Shares of Roku Inc. YEAR,
rose more than 2% in premarket trading on Thursday after Needham analyst Laura Martin raised her stock price target to $ 400 from $ 315. Its price increase target comes after Roku revealed better preliminary values than expected active accounts and streaming hours for the fourth quarter. “What is clear to us from 2020 is that ROKU has won the US streaming wars,” Martin wrote in a note to customers. “It is [connected TV] concentration, competitive advantages of the platform, trenches and excellence in execution suggest that ROKU will continue to gain market share in 2021. “Martin expects higher advertising revenue for Roku in 2021, as large ad categories, such as travel, retail and entertainment could boost spending amid an economic recovery, and it expects the company to benefit from an advertising perspective now that people are watching streaming content for longer periods of time. 61% in the last three months as the S&P 500 SPX,
increased by about 10%.