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Roku Launches New Streaming Stick Models; Street Says Buy
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Roku Launches New Streaming Stick Models; Street Says Buy

Digital streaming major Roku, Inc. (ROKU) recently announced the launch of its new streaming stick models, the Roku Streaming Stick 4K and Roku Streaming Stick 4K+. The models will be available from mid-October.

Following the news, shares of the company declined 2.5% to close at $316.01 on Monday.

The Roku Streaming Stick 4K boots up to 30% faster and ensures smooth streaming in 4K, Dolby Vision and HDR10+ picture quality. It includes a redesigned long-range Wi-Fi receiver that delivers faster Wi-Fi speeds. The Roku Streaming Stick 4K+ is rechargeable and has a voice-activated lost remote finder. It also offers all the features of Roku Streaming Stick 4K

The Vice-President of Retail Product Strategy at Roku, Mark Ely, said “The Roku Streaming Stick has been a fan favorite for years and we’ve redesigned it in the Roku Streaming Stick 4K to be faster and more powerful than ever. We’ve also added the Roku Voice Remote Pro to the Roku Streaming Stick 4K+ enabling TV lovers to find their remote just by using their voice – it’s also rechargeable and has been getting great feedback from customers.” (See Roku stock chart on TipRanks)

Recently, Stephens analyst Nicholas Zangler reiterated a Buy rating on the stock. The analyst’s price target of $475 implies upside potential of 50.3% from current levels.

According to the analyst, Amazon’s plans to launch its own branded smart TVs with aggressive points is not expected to dent Roku’s growth prospects, as Roku OS comes embedded in almost 38% of all smart TV unit sales.

Consensus among analysts is a Strong Buy based on 15 Buys, 1 Hold and 1 Sell. The average Roku price target of $489.25 implies upside potential of 54.8% from current levels.

Roku scores a 7 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations. Shares have gained 67.4% over the past year.

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