Shares of Roku Inc. ROKU,
rose more than 2% in pre-market trades on Thursday after Needham analyst Laura Martin raised her target price to $ 400 from $ 315. Her price increase target comes after Roku released metrics better account previews and streaming hours better than expected for the fourth quarter. “What is clear to us in 2020 is that ROKU won the streaming wars in the United States,” wrote Martin in a note to customers. “It is [connected TV] focus, platform competitive advantages, ditches and execution excellence, all suggest that ROKU will continue to gain market share in 2021. “Martin expects greater advertising revenue for Roku in 2021 as large categories of advertisements such as travel, retail and entertainment may increase spending amid an economic recovery. She also expects the company to benefit from an advertising perspective, now that people are viewing streaming content for longer periods. Roku’s shares have increased 61% in the past three months like the S&P 500 SPX,
increased by about 10%.
