Roku Inc. (ROKU) PT Lowered to $340 at Needham & Company

Needham & Company analyst Laura Martin lowered the price target on Roku Inc. (NASDAQ: ROKU) to $340.00 (from $550.00) while maintaining a Buy rating.

The firm's Buy rating is based on:

1. ROKU's rising platform power with consumers and advertisers;
2. Rising SVOD churn benefits ROKU, and we expect ROKU's subscription revenue to be over 30% of ad revs by 2023;
3. We highlight the 6 things we like most about ROKU as in investment idea;
4. We discuss the 5 upside value drivers that investors most often miss;
5. We summarize why we do NOT consider AMZN and GOOGL to be material competitive threats; and
6. We introduce 2023 estimates.

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