Why Roku's Stock Is Trading Higher Today

Roku, Inc. ROKU shares are trading higher after Rosenblatt maintained a Buy rating on the stock and raised its price target from $145 to $190.

"We are incrementally more bullish on Roku’s ad revenue prospects NTM as we believe the pandemic has (at last) become a tipping point to more meaningful transfer of linear TV ad dollars to CTV," Rosenblatt's Mark Zgutowicz wrote in a note.

Roku operates a TV streaming platform in the United States. Its TV streaming platform allows users to discover and access a variety of movies and TV episodes, as well as live sports, music, news, and others.

Roku's stock was trading up 2.32% at 165.54 per share on Tuesday at the time of publication. The company has a 52-week high of $176.55 and a 52-week low of $58.22.