Roku (ROKU – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Laura Martin from Needham maintained a Buy rating on the stock and has a $88.50 price target.
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Laura Martin’s rating is based on the impressive financial turnaround that Roku has experienced under the leadership of its CFO, Dan Jedda. Since his arrival, Roku has transitioned from a negative free cash flow of $150 million in 2022 to an expected positive free cash flow exceeding $200 million in 2024, with further guidance projecting over $350 million by 2025.
This significant improvement in financial performance suggests a strong growth trajectory for Roku, making it an attractive investment opportunity. Additionally, the involvement of Roku’s VP of Investor Relations, Conrad Grodd, in engaging with Needham clients indicates a proactive approach in maintaining investor relations and transparency, further supporting the Buy rating.
In another report released on May 6, Robert W. Baird also maintained a Buy rating on the stock with a $85.00 price target.
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