Roku (ROKU) – Get Report shares rose Friday after the company reported fourth-quarter earnings to the video streaming platform that exceeded expectations and gave an optimistic view of the future outlook in turn prompted at least two Wall Street analysts to raise their one-year price targets for the stock

Roku shares rose 159% to $ 46018 in premarket trading on Friday after the San Jose-based company reported a surprising fourth quarter profit when its streaming platform topped 51 million active accounts

Roku posted earnings of 53 cents per share, or 49 cents per share on an adjusted basis9 million on sales of $ 649, an increase of 58% over the previous year Analysts expected an adjusted loss of 5 cents per share of sales from $ 6177 million

The analysts were broadly positive about the report Several companies raised their price targets, though some were more cautious about the stock’s valuation

Benchmark analysts called the results a “completed proof-of-concept quarter for the advertising and sales platform thesis” and noted that, other than concerns about valuation and consensus expectations, we see no major obstacles ahead of this rocket ship ”

The company raised its price target for the stock from $ 410 to $ 600 and maintained its Buy recommendation at

Meanwhile, in a Research Note, Pivot Research wrote that Roku’s results were strong and the outlook was better than expected, but also noted that despite the company’s very solid background and outlook, “… it’s undoubtedly an expensive Pivot raised its one-year price target for Roku from $ 240 to $ 400, but maintained its hold rating

Bank of America continues to hold high price target on Wall Street The bank raised its one-year price target on Roku from $ 380 to $ 500 last month as it was optimistic that the deal would be acquired the rights to content from defunct short-form video streaming company Quibi showed its focus on content

Roku shares have more than tripled in the past year, up 42% for the Nasdaq

Roku Stock

World News – US – Roku rises as earnings outperform analysts at Sparks Beat’s price hikes