Tech stock Roku (NASDAQ:ROKU) is doing a great job of working both sides of the streaming video fence at once. It not only has content through its Roku Channel, but it also has the hardware to view that content. Recently, Roku rolled out a fresh line of Roku-branded televisions to stores and brought in some new features as well. Investors, however, aren’t pleased with how things are going, as Roku is down substantially in Thursday afternoon trading.
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Finding a new Roku television—specifically the Roku Select and Roku Plus Series—won’t exactly be easy to do. Those interested will only be able to find them at Best Buy (NASDAQ:BBY) locations. Nevertheless, Roku televisions will have plenty of options, with screens ranging from a modest 24-inch to an impressive 75 inches.
Plus, Roku hardware is on pace to get several new features. The new televisions boast Bluetooth Private Listening systems, allowing users with Bluetooth headphones to connect wirelessly and listen to the television’s output on headphones. Furthermore, those who already own Roku hardware won’t be left out in the cold. A new Account Hub, along with a simplified home screen interface and new channel guides, are all set to hit the Roku operating system fairly soon.
Yet even as Roku advances, investors retreat, as analyst consensus calls ROKU stock a Hold with nine Buys, eight Holds, and four Sells assigned in the past three months. However, Wall Street still expects 16.62% upside potential thanks to ROKU’s average price target of $70.67.
