Shares of Roku Inc. YEAR,
are up more than 2% in premarket trading on Thursday after Needham analyst Laura Martin raised her stock price target from $ 315 to $ 400. Her raised price target comes after Roku provides better-than-expected preliminary statistics on active accounts and streaming hours for the stock market. fourth quarter. “What is clear to us from 2020 is that ROKU has won the streaming wars in the US,” Martin wrote in a note to customers. “Her [connected TV] focus, competitive advantages on the platform, moats and exquisite execution all suggest to us that ROKU will continue to gain market share in 2021. Martin expects greater ad revenue for Roku in 2021 as major ad categories such as travel, retail and entertainment are spending amid an economic recovery. She also expects the company will benefit from an ad perspective as people watch streaming content for longer periods of time. Roku stock has added 61% in the past three months as the S&P 500 SPX,
is up about 10%.