The current advertising climate is carving out distinct winners and losers, and Wall Street is about to see where Roku Inc. fits in.
As Meta Platforms Inc. META and Alphabet Inc.’s GOOG GOOGL Google turn their strong ad-targeting capabilities into upbeat revenue performance, many others in the industry are foundering. Snap Inc. SNAP can’t manage to translate its engaged base of young users into top-line growth, and ad agencies are calling out more cautious behaviors from clients, including in the tech industry.Roku ROKU is in a particularly unique position given the ever-evolving nature of the streaming landscape.
Of the 33 analysts tracked by FactSet who cover Roku’s stock, 13 have buy ratings, 14 have hold ratings, and six have sell ratings, with an average price target of $70.50. On the advertising front, Wells Fargo’s Steven Cahall is somewhat encouraged by signals in the chatter market, which is for ads that aren’t purchased upfront, though he still saw reasons to be cautious.
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