Roku Inc (NASDAQ:ROKU) shares climbed on Thursday after multiple analysts issued bullish adjustments on the stock.
- Roku shares are advancing steadily. What’s pushing ROKU stock higher?
What Happened: Roku shares are rising after Jefferies analyst James Heaney upgraded the stock to Buy and raised its price target to $135 from $100.
Adding to the momentum, Wedbush analyst Alicia Reese reiterated an Outperform rating and raised the target to $130 from $115.
Roku has a consensus Buy rating from analysts with an average price target of $109.27, according to Benzinga data.
ROKU Analysis
Roku is currently showing a strong technical setup, trading well above its key moving averages, which indicates bullish momentum. The stock is positioned 9.1% above its 20-day SMA, 7.3% above its 50-day SMA, and 10.7% above its 100-day SMA, suggesting a healthy upward trend.
The RSI is currently at 61.54, which is in neutral territory, indicating that the stock is neither overbought nor oversold. This level suggests that there is still room for further upward movement without immediate concerns of a pullback. MACD is also above its signal line, indicating bullish momentum in the stock.
Key support is around $91.50, while resistance is at $107.50. If the stock approaches the resistance level, traders should watch for potential breakout opportunities, while a drop to support could signal a trend reversal.
A golden cross in July, when the 50-day SMA crossed above the 200-day SMA, marked a significant bullish signal. This crossover typically indicates the potential for a sustained upward trend, which aligns with the current price action.
Over the past 12 months, Roku has gained 29.26%, reflecting a solid longer-term uptrend. This performance highlights the stock’s resilience and potential for continued growth, especially given its current positioning near the upper end of its 52-week range.
Currently, the stock is near its recent swing high of $116.66 reached on Oct. 31, 2025. This positioning suggests that Roku is in a strong state, with the potential to challenge previous highs if bullish momentum continues.
With the current technical indicators pointing towards strength, traders should remain alert for potential breakout opportunities while keeping an eye on key support and resistance levels. The overall setup suggests a favorable environment for bullish strategies in the near term.
ROKU Price Action: Roku shares were up 1.27% at $106.70 at the time of publication on Thursday, according to Benzinga Pro.
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