Roku Inc. (ROKU) PT Raised to $120 at Needham

Needham analyst Laura Martin raised the price target on Roku Inc. (NASDAQ: ROKU) to $120.00 (from $100.00) while maintaining a Buy rating.

The analyst comments "What we liked most: a) Roku's installed base reached 90mm homes in Jan 2025, adding nearly 10mm HHs in 2024; b) Political ad revs reached $70mm in 4Q (adding 600 bp of 4Q rev growth); c) 4.2 hours/day/home of viewing, up 4.3% y/y; d) strong margin expansion; e) guidance of FCF>EBITDA in FY25; d) strong subscription rev growth; f) retail media ad units give Roku pricing power and full-funnel CTV capabilities; g) self-service expands TAM from SMBs; h) impressive cost controls; and, g) deep integrations with many DSPs is leading to higher ad fill ratios."

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