Why Roku's Stock Is Trading Higher Today

Roku, Inc. ROKU shares are trading higher after the company reported better-than-expected EPS and sales results and issued revenue guidance above estimates.

Roku reported first-quarter earnings per share results of $0.54, which beat the $(0.15) analyst estimate and sales results of $574.18 million, which beat the $490.56 million analyst estimate.

Loop Capital also upgraded the stock from Hold to Buy and announced a $450 price target.

Roku is the leading streaming platform in the U.S. by hours watched with over 40 billion hours of content streamed in 2019.

Roku's stock was trading 15% higher at $327.31 per share at the time of publication. The stock has a 52-week high of $486.72 and a 52-week low of $100.19.