Roku Posting Strong Gain After Being Named Needham's "Top Pick For 2019"

(RTTNews) - After gapping open significantly higher, shares of Roku Inc. (ROKU) continue to see considerable strength in afternoon trading on Wednesday. Roku is currently up by 5.9 percent after ending the previous session at its lowest closing level in over a year.

The rebound by Roku comes after Needham named the streaming video device maker as its "top pick for 2019." Needham cited Roku's strong growth in the over-the-top video market, strategic position, demographic reach, and other factors.

Needham Analyst Laura Martin also reiterated her buy rating on Roku's stock with a price target of $45 per share.