Roku jumps after news that it's rolling out a new ad tracker
- Roku's stock was up after news that it will introduce a suite of new ad measurement tools.
- The tools will allow marketers, TV networks, and media owners to track the effectiveness of their ad campaigns on Roku's platforms.
- The rally was a break from a rough few weeks for the stock after a Morgan Stanley analyst said Roku's valuation was "hard to justify."
- Get the latest Roku stock price here.
Shares of Roku jumped as much as 5.64% on Wednesday after news that the streaming player company will introduce a new ad measurement tracker, named Roku Ad Insights, that would allow brands and agencies to measure how effective their ad campaigns are across Roku's platforms.
As viewers move from traditional broadcast and cable television to streaming services on their desktop or mobile devices, advertisers are looking for ways to reach and receive feedback from viewers who are increasingly cutting the cord.
Roku is offering a suite of tools which measure the effectiveness of ad campaigns, provide insights on cord cutters, and allow marketers to get feedback on their ads through surveys of Roku's audience.
Roku's stock has had a tepid run in the last few weeks after a Morgan Stanley analyst said its valuation was "hard to justify."
Roku's streaming devices may get a boost from a spat between Google and Amazon. Google removed its popular YouTube app from Amazon streaming devices on Jan. 1 after Amazon refused to carry some of Google's products on its online store. Roku carries both companies' products, including YouTube, which could draw more consumers to its media players.
Roku's stock was trading at $41.23 per share on Wednesday. Its shares were up 75.53% since its IPO in September.
