Roku has enjoyed a lucrative year in 2019. Markets Business Insider, via Needham, has stated that their stock has nearly tripled in 2019. Now add that Needham’s Laura Martin raised her price target to $200 per share from the previous $136 and it gained another 7% on Tuesday December 3rd. This however also occurred a day after Morgan Stanley downgraded the company which dropped it by around 16%.
With everybody, their cousin, and their dog, coming out with a new streaming service it would seem that Roku is poised for even greater success. Regardless of if, or when, the bubble bursts streaming services look like they’re here to stay and continue growing. Roku continues to drive streaming technology forward by constantly adding features such as microphones, speakers, headphones, and added controls, to their product lines. Some of these may seem trivial but keeping it simple and streamlined has helped them gain a 40% installed base foothold in the U.S. As long as they can stay on top of evolving tech such as HDMI 2.1 and adding new services as they’re released it appear the train will not be slowing down any time soon.