Call It a Comeback: Roku Reaches 19-Month High on Wall Street After Yet Another Upgrade

By Daniel Frankel
( NextTV )
published

Shares are back above $100 for the first time since April 2022 after Cannonball Research analyst Vasily Karasyov bumped the streaming company to 'buy'

Roku
(Image credit: Future)

The most volatile stock in the TMT universe rebounded to an important milestone Monday, surging more than 8% on the Nasdaq to reach over $100 a share.

It was the first time Roku stock has hit a triple-digit price since April 2022. The latest Roku stock surge came after Cannonball Research analyst Vasily Karasyov upgraded the streaming company to "buy" status. 

Karasyov based his upgrade on what he believes are the better-than-feared recent performance of connected TV advertising. 

Roku has been steadily gaining momentum on Wall Street since the beginning of November, when it beat Q3 forecasts on account growth and revenue. 

The company still has a long way to go to surpass its all-time high of $473.70 a share, reached back in July 2021. 

Still, Roku has recovered quite a bit from bottoming out at nearly $40 a share last December.

Daniel Frankel
Daniel Frankel

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!