Roku Stock Surging New HighsPosted by bennetglobal on July 18th, 2019 Shares of Roku, the online media giant have recently seen an influx of positivity in their share price hitting new highs this week, on top of already impressive gains so far in 2019. The streaming service provider have been making a large headway in the markets so far this year seeing an increase of 271% so far. The question on many people’s minds of course, is what is driving this new rally for the company? Recently Canadian boutique equity research firm CrispIdea upgraded Roku from a hold recommendation up to a buy. The company have cited many reasons for the upgrade, however it would seem that the main trigger has been Roku’s impressive revenue growth of late. In recent months Roku have seen soaring numbers in their revenue with an impressive 45% year over year revenue growth for the full year. More impressive perhaps, is the company’s platform segment, including its advertising revenue which grew over 85% compared to 2017. Roku does not seem to be stopping the growth, and the company’s unbelievably strong execution has added more fuel to the fire when it comes to their gains. And for the company, having an analyst upgrade their recommendation or being one of the bestselling products during Amazon’s Prime day, give strong evidence to investors that their growth is just beginning. If Roku continue along the same path that their existing business model has been laying out, the sky really is the limit for the company. Benjamin Zhou – Bennet Global Like it? Share it!More by this author |