On Friday, JP Morgan analyst Brent Navon maintained a Buy rating on Roku ( ROKU ) with a price target of $100.

Roku ( ROKU ) is a leading video streaming platform company that provides access to a wide array of content via its hardware devices and operating software.

Over the last decade, the media and entertainment industry has undergone a significant secular shift toward streaming.

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Roku ( ROKU ) has been at the forefront of this by enabling households in the US (and increasingly internationally) to rapidly adopt and consume new forms of video entertainment.

Their array of streaming devices/TVs and user-friendly software have led Roku ( ROKU ) to amass a market-leading position and a substantial user base.

Navon noted that Roku ( ROKU ) is poised to enter the next phase of monetization, which will drive revenue and profitability growth in the foreseeable future.

Driven by its culture of technological innovation and the rapid growth of streaming, Roku ( ROKU ) has acquired significant scale. It has over 90 million active accounts, which streamed over 125 billion hours in 2024.

While in the past 10+ years Roku ( ROKU ) 1.0 was all about building this large scale, we expect Roku ( ROKU ) 2.0 to be about monetizing that base while also reflecting the substantial engagement of the Roku ( ROKU ) platform.

Navon noted this scale is an underappreciated asset and is the crux of his bullish thesis.

Roku ( ROKU ) has a notable scope for expanding its top and bottom lines and should benefit from several favorable industry trends and company-specific actions. These include growth in CTV advertising, secular growth in streaming video domestically and internationally, improving fill rates (the % of ad spaces being successfully filled) of their advertising business, which Navon estimated are