A Lot to Like in Roku's (ROKU) Quarter - Needham & Company

Needham & Company analsyt Laura Martin reiterated a Buy rating and $60 price target on Roku Inc. (NASDAQ: ROKU) following another 'beat and raise' quarter.

Martin views "all system go" for ROKU. What she liked the most was

a) raised FY18 guidance;

b) another quarter of accelerating y/y revenue growth (57% from 36% in Q1),

c) positive EBITDA (which she said was a big surprise)

d) 22.0mm active users with strong 2Q18 user add (1.2mm added in 2Q18, up from 0.9 added in 2Q17)

e) rising engagement as hours streamed rose 57% y/y in 2Q18 (faster than 1Q18’s 55% y/y growth); and

f) record ARPU of $16.60 (up 48% y/y).

For an analyst ratings summary and ratings history on Roku Inc. click here. For more ratings news on Roku Inc. click here.

Shares of Roku Inc. closed at $52.61 yesterday.

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