Macquarie raised the firm’s price target on Roku to $90 from $72 and keeps an Outperform rating on the shares. The firm also raised its revenue and adjusted EBITDA estimates on improved outlook. Roku is making moves to better monetize its large installed user base, using better ad tech to improve fill rates, at solid CPM pricing, Macquarie says. The firm also notes that the new Ads Manager self-serve tool makes it easier for smaller e-commerce advertisers to buy on Roku.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ROKU:
- Needham says market reaction ‘overdone,’ recommends buying Magnite
- Meta, Alphabet initiated: Wall Street’s top analyst calls
- Roku upgraded to Neutral from Sell at MoffettNathanson
- Roku price target raised to $90 from $75 at BofA
- Roku price target raised to $75 from $56 at Baird