Fly News Breaks for December 17, 2019
Dec 17, 2019 | 07:48 EDT
Oppenheimer analyst Jason Helfstein says he believes the resignation of Roku CFO Steve Louden is likely a "personal decision," as Louden has been commuting from Seattle to San Jose on a weekly basis. The analyst, who keeps an Outperform rating and $155 price target on the shares, says he hosted a conference call with Louden prior to the announcement, saying Louden reiterated that no OEM revenue sharing is occurring in the industry, and the company is not in any discussions about payments. Louden also said that Dataxu provides Roku access to mid/lower-tier advertisers with a more robust programmatic offering, though a heavier transition to programmatic will have a more muted impact because of current demand constraints, noting that Louden did not comment on Amazon (AMZN) Fire TV moving away from Dataxu.
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