- ROKU +1.21%
Roku Inc. (NASDAQ:ROKU) is among the top 10 stocks to buy from Cathie Wood’s stock portfolio. ARK Investment Management decreased its Roku position by nearly 13% by the end of Q3, reducing its share count to 7.35 million from 8.46 million. By quarter-end, the stake represented around 4.4% of ARK’s 13F portfolio and was valued at approximately $736 million.
As of market close on November 27, analyst opinion remains modestly favourable on Roku Inc. (NASDAQ:ROKU), with over 60% of analysts covering it assigning a Buy or equivalent rating. The consensus 1-year median price target indicates a 19% upside potential.
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On November 6, the fund further reduced its stake in Roku Inc. (NASDAQ:ROKU) by selling 160,812 shares for around $17 million. Earlier, on November 4 and 5, they also sold 15,362 and 105,576 shares, respectively. As of November 26, the combined Roku position across ARK’s three actively managed ETFs was around $561 million, indicating the fund has been reducing its position in the stock in recent months.
On the fundamental side, the stock appears to be gaining analyst attention in early November. On November 3, UBS analyst John Hodulik raised his price target on Roku Inc. (NASDAQ:ROKU) to $103 from $95. While the analyst acknowledged the company’s robust quarterly results on October 31, he maintained his cautious stance on the stock with a Neutral rating.
On the other hand, Piper Sandler analyst Thomas Champion upgraded the stock’s rating to Buy after the results and raised the price target to $135 from $88 earlier. Supporting his bullish investment case, Champion had stated:
“We now have more confidence in the Platform revenue glidepath into 2026 and take our revenue growth forecast to ~14.5% (from prior 12%), a starting point we think that could land in the high teens by year-end ’26. We’re now confident enough to make a ratings change because we have conviction Platform revenue is a mid-to-high teens revenue grower in ’26.”
Roku Inc. (NASDAQ:ROKU) is an American streaming technology company. It operates a television streaming services platform and produces consumer electronics, including streaming players and smart TVs.
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Disclosure: None. This article is originally published at Insider Monkey.
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