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Roku shares have tripled this year but they just gained another bull

Emily Bary
Roku shares have tripled this year but they just gained another bull

“We recognize the heightened risk associated with the company’s high relative valuation but believe that at its current $10.6 billion market capitalization, Roku’s asset value is compelling given its strong and growing household penetration,” wrote Morris, who raised his price target on the stock to $119 from $79 in conjunction with the upgrade. Morris argued that the company’s first-quarter results were “representative of the core trajectory for key metrics.” One data point that stuck out to him was Roku’s disclosure that its operating system was found in a third of all U.S. smart TVs sold during the period, up from “over 25%” the previous time Roku reported the statistic.