Analyst: Roku Will Be Bought for a "Large Premium"

The analyst expects a transaction within the next year

Jake Scott

Deputy Editor

Dec 4, 2024 at 9:32 AM

ROKU

Roku Inc (NASDAQ:ROKU) stock is 6% higher at the open, after Needham said it sees the streaming company being bought for a "large premium" within the next 12 months. The analyst in question maintained its "buy" rating and $100 price target on ROKU.

Roku stock has now broken above $80, which has kept a lid on shares since mid-September. The equity is also on track to fully recover the 5.9% it's lost over the last three months, and has increased its year-to-date lead to more than 10%.

Coming into today, the majority of analysts were bearish, which leaves room for sentiment to shift and help propel ROKU higher. Specifically, 14 of 26 covering brokerages rate the stock a "hold" or worse."

Meanwhile, short interest is up 40.2% in the most recent reporting period. The 12.52 million shares sold short represent 9.9% of the stock's available float, or more than three days' worth of pent-up buying power.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.