Roku Inc. (NASDAQ:ROKU) is a leading figure in the streaming industry, recognized for its innovative digital media players that facilitate access to streaming content on televisions. Competing against giants like Amazon Fire TV and Apple TV, Roku has recently been in the spotlight due to an upgrade by Needham to a “Buy” rating, with the stock priced at $81.36 at the time of the announcement.
The company’s stock has witnessed a significant uptick, with shares increasing by 10.4% in the last trading session, closing at $82.17. This rise is attributed to a higher-than-average trading volume, as reported by Zacks. Over the past four weeks, the stock has seen a gain of 4.3%. The recent boost in Roku’s share price comes on the heels of its announcement of a new partnership with Amazon Ads, aiming to revolutionize the way advertisers connect with Connected TV (CTV) audiences.
Through this collaboration, advertisers leveraging Amazon’s demand-side platform (DSP) can now reach an estimated 80 million U.S. CTV households within the Roku and Fire TV ecosystems. This partnership merges two of the largest CTV platforms, providing advertisers with an extensive reach to a broad and highly targetable audience across connected devices. The partnership enables advertisers to execute targeted campaigns across major streaming services, including The Roku Channel, Prime Video, and other platforms available on Roku and Amazon Fire TV devices.
Furthermore, third-party apps such as Disney+, Paramount+, and Tubi are also included in this expansive network. A custom identity resolution system supports this integration, allowing Amazon DSP to accurately identify viewers logged into Roku devices. Throughout the day, the stock fluctuated between a low of $80.88 and a high of $85.40. Over the past year, Roku has reached a peak of $104.96 and a trough of $48.33. The company’s market capitalization is currently around $11.93 billion, with a trading volume of 2,941,754 shares.
