Roku gains 3% on upgrades by Guggenheim with a price target of $395

 

Roku (NASDAQ:ROKU) is expanding its Canadian ad business premiering OneView advertising platform to begin the country’s move into streaming TV. The move will help increase advertising. Securities firm Guggenheim upgrades to Buy, from neutral with a price target of $395 according to analyst Michael Morris.

On September 6, 2021, Roku Inc, announced that its streaming players will be available in Germany later this year.

On September 20th Roku, Inc. (NASDAQ: ROKU) today announced Roku® OS 10.5 will begin rolling out to Roku devices in the coming weeks. Roku OS 10.5 introduces new features putting Live TV front and center for streaming player users, tips on how to get the most out of Roku Voice, new surround sound configurations for audio device owners, more voice control options and updates to Roku mobile app features. Additionally, Roku announced an all-new Roku Streaming Stick 4K and Roku Streaming Stick 4K+

On September 21, 2021 – Roku, Inc. (Nasdaq: ROKU) today announced it is launching a new app that will allow Shopify merchants to easily build, buy, and measure TV streaming advertising campaigns. Roku’s addition to Shopify’s marketing solutions will become the first-ever TV streaming app available in the Shopify App Store, opening the door to small and medium-sized businesses (SMBs) to build stronger brands and increase revenue through TV advertising. Designed for merchants to use on their own and with limited ad budgets, Roku’s platform has already shown it can be effective, lifting consideration for one advertiser’s brand by 63%. Source Investor Relations Roku, Inc.

Trend Analysis

ROKU appears to be improving within a longer-term upwards trend. Although it is presently below its 200-day moving average, that average is rising, due to prior gains in ROKU shares. Additionally, the MACD histogram, which is used to measure the near-term trend, is above 0. Comparative Relative Strength analysis shows that this issue is lagging the S&P 500. Source Charles Schwab As of 11:19 AM ET Thursday, 09/23/2021

Momentum
Momentum for ROKU is improving. The 14-period Slow Stochastic Oscillator is rising as investors begin to purchase shares.

Volume
Today’s volume is on track to be heavier than usual, with 3,301,674 shares having traded so far. The On Balance Volume indicator (OBV) shows that longer term selling pressure has given way to near term accumulation by traders.
As of 11:19 AM ET Thursday, 09/23/2021

Volatility
Bollinger Bands® use standard deviation of the closing price around a moving average to measure volatility. The Bollinger Bands® are presently wider than usual, as a result of greater than normal volatility that accompanied the recent price move.  Events such as this may precede a pause or reversal in the near term trend.
As of 11:19 AM ET Thursday, 09/23/2021 Source Charles Schwab

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