Good news for Roku, upgrade time!

Not only did Roku Stock get an upgrade from needham, now roku has gotten an upgrade from Cannonball Research aswell. Vasily Karasyov from Cannonball Research has upgraded Roku Stock to a buy rating and raised the roku price target to $180.

After monday’s downgrade and 15% drop, roku stock is in need for a break. Luckily Roku has already gotten an upgrade a day after the massive sell-off. You can read more about it in a previous article on our site.

Will the price target upgrade from Cannonball Research by Vasily Karasyov change alot for Roku? personally I doubt it will have a big impact. Cannonball Research is not a major analyst firm (atleast to my knowledge), so I doubt that it will drive the price up alot.

That being said, any upgrade is a good upgrade. And we definitely need some more upgrades after the monday massacre. Many people do not understand the core business of Roku, making the stock underappreciated by some. Sure Roku stock is a bit overvalued at the moment, but you have to keep in mind that Roku is still a growth stock. Their value is increasing every quarter. They’re expanding their business and growing their revenues as we speak.

Roku is in the streaming business with an ad based model. They thrive when they get more subscribers and more viewers. Roku does not make the most of its revenue by selling devices and speaker. Sure it’s a nice addition, but their main focus is their user and subscriber base. The more users they have, the more ad-money they accumulate. I will be writing a more in-depth analysis of Roku and it’s business model some time this weekend, so keep an eye on the site and stay tuned!

Roku back to Growku? – article
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