Piper Sandler analyst Matt Farrell raised the firm’s price target on Roku (ROKU) to $100 from $75 and keeps a Neutral rating on the shares after the company delivered a nice beat to platform revenue in Q4. In addition, Roku pointed to continue platform momentum in 2025, with Q1 and initial 2025 platform revenue guidance coming in ahead of expectations. On top of the favorable platform trends, Roku also provided initial 2025 adjusted EBITDA guidance well ahead of expectations, as the model shows leverage against cost discipline, Piper adds. Overall, the firm believes execution is improving. However, it waits for a better entry point in the stock at this point.
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