Roku shares notch biggest daily percentage gain in four years
Meta shares were up about 4% on Friday while Alphabet was up about 3%, helping to drive a roughly 1% gain in the S&P 500 indexSeveral brokerages raised their price targets on Roku after the news, including D.A. Davidson, which increased its price target to $81 and reiterated its "buy" rating on the stock.
"The company remains confident in its ability to exploit the secular shift of linear TV advertising dollars moving to over-the-top . With that said, management expects the current challenging ad trends to continue for," the second half of the year, D.A. Davidson analysts wrote in a note Friday. Roku said it added 1.9 million "active accounts" from the previous quarter to now reach 73.5 million.
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