Why Roku Inc. (ROKU) Went Up On Friday?

We recently published a list of 10 Stocks Lead Friday’s Charge. In this article, we are going to take a look at where Roku Inc. (NASDAQ:ROKU) stands against other stocks that lead Friday’s charge.

The stock market finished in the green territory on Friday, albeit muted trading persisted over the lack of catalysts to fuel investing appetite.

The tech-heavy Nasdaq led gains among Wall Street’s benchmark indices, finishing up by 0.52 percent. Meanwhile, both the Dow Jones and S&P 500 ended the week eking out 0.08-percent gains.

Ten companies mirrored the broader market optimism, finishing the week with modest gains. In this article, we have identified today’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with $2 billion in market capitalization and $5 million in trading volume.

A large movie theatre filled with people enjoying a film streaming on a smart TV.

Roku Inc. (NASDAQ:ROKU)

Roku Inc. extended its winning streak for a third straight day on Friday, adding 6.06 percent to finish at $78.29 each as investors cheered the company’s partnership with Monster Jam to add its FAST channel to its platform.

Under the agreement, ROKU will bring Monster Jam trucks, stunts, and races for free to millions of households across the US.

The Monster Jam channel will feature a vast selection of content from 20 years of its TV shows, including the current season with full event replays, behind-the-scenes access, and exclusive interviews with champion drivers.

Meanwhile, ROKU recently earned a “buy” rating from Guggenheim Securities, saying that it believes the company will exit the year “at its strongest” level amid expectations of continued improvements.

“Specifically, we believe actions including improved focus on monetization-based operating metrics, broadening third-party partnerships, and expanding revenue-generating offerings while incrementally focusing on profitability and free cash flow generation are driving a more valuable enterprise,” it said.

Overall, ROKU ranks 8th on our list of stocks that lead Friday’s charge. While we acknowledge the potential of ROKU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as ROKU but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.