Netflix, Roku Jump as More People Shelter at Home

By Kim Khan 

Investing.com – Streaming services Netflix (NASDAQ:) and Roku I(NASDAQ:) bounced higher Monday, with more people expected to be staying at home as local authorities try to contain the Covid-19 pandemic.

Shares of Netflix and Roku were both up more than 7% in morning trading.

Baird upgraded Netflix to outperform from neutral, pointing to its strength as the market leader.

“We view (Netflix) as one of the preeminent stay-at-home winners, with the current environment enabling it to widen its global lead,” Baird said in a research note.

Needham was positive on Roku, maintaining its buy rating and $200 price target, saying that TV viewing and streaming consumption are up double digits.

Analyst Laura Martin prefers Roku over Netflix due to valuation, balance street strength, revenue tied to viewing growing, pricing power and content pipeline, Briefing.com reported.

Meanwhile, Walt Disney ‘s (NYSE:) Disney+ is set for a wider global rollout tomorrow. Its shares were down 2.9% as it faces dwindling cinema and theme park attendance.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.