Spotlight on Roku: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
High-rolling investors have shown a bullish sentiment on Roku (NASDAQ:ROKU), with options activity indicating a target price range of $45.0 to $70.0. Benzinga's options scanner revealed 9 significant trades, with a majority being bullish. The largest trades include a bearish put at a $45.0 strike price and bullish calls at strike prices ranging from $60.0 to $70.0. Roku's current trading volume is 1,294,365, with a slight increase in stock price to $60.95. Analyst ratings in the last month average a target price of $60.0, with Morgan Stanley maintaining an Underweight rating.
April 09, 2024 | 3:30 pm
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Roku sees bullish options activity with a target price range of $45-$70, amidst a slight increase in stock price to $60.95. Analysts average a target price of $60, with Morgan Stanley maintaining an Underweight rating.
The bullish sentiment among high-rolling investors, as indicated by the options activity, suggests a positive outlook for Roku's stock price in the short term. The significant options trades, especially the bullish calls, indicate an expectation of stock price increase. However, the analyst rating from Morgan Stanley and the average target price of $60 provide a cautious perspective, potentially moderating the stock's upward momentum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100