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Roku share price: what’s the latest after its secondary share offering?

The streaming platform issued a secondary share offering that led to its stock falling more than 7% this week. But with the stock up 400% since the start of January its share price could climb higher.

On Tuesday, Roku saw its shares tumble more than 7% after it announced a secondary share offering, with management selling 1 million shares of Class A common stock.

The decision likely upset some shareholders, with it being the third time this year that the company has sold additional shares and, therefore, diluted existing shareholders holdings.

However, the funds raised from the secondary share offering will be used to ‘acquire or invest in businesses’, according to the Securities and Exchange Commission filing.

Looking to trade Roku and other US tech stocks? Open a live or demo account with IG.

Roku hints at further M&A after DataXu deal

Roku only recently completed its acquisition of advertising platform DataXu in a deal valued at $150 million. The deal will help the streaming platform deepen its foray into advertising, which has become one of its most profitable business lines.

So far this year, the stock is up close to 400% - making it one of the highest growth stocks. Investors can expect its share price to continue to rise if it does look to use the funds raised from its latest share offering to make acquisitions.

You can go long or short Roku with IG using derivatives like CFDs and spread bets.

Analysts remain upbeat about the Roku share price

The 17 analysts offering 12-month price forecasts for Roku Inc have a median target of $150, with a high estimate of $185 and a low estimate of $60.

Based on the stock trading at $157.83 as of 16:45 GMT on Thursday, analysts believe the stock has a potential upside of 17.2%.

However, based on analysts median and low estimate, it could slide between -4.9% to 61%.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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