Roku shares jump as Wall Street bets on the company riding Disney and Netflix coattails

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it's IPO at the Nasdaq Marketsite in New York, September 28, 2017.
Brendan McDermid | Reuters

If Disney, Apple and Netflix are getting a boost from the so-called streaming wars, they are taking Roku up with them, according to multiple Wall Street firms.

Analysts said the video platform will ride the wave of new streaming services like Disney+ and Apple TV+, boosting new accounts and the stock.

"Rarely have we seen a company so well positioned to exploit an emerging trend as we believe is the case with Roku and over-the-top (OTT) video consumption," D.A. Davidson senior research analyst Tom Forte said in a note to clients on Monday.

Shares of Roku rose 4.3% on Monday and have rallied nearly 225% in the past 12 months, largely because it is one of the few platforms that lets consumers watch Disney+, Amazon Prime Video, Apple TV+, Netflix and Hulu. While Disney+ added more than 20 million subscribers from its launch in November to the end of the year, Needham said that brought a bunch of new subscribers to Roku.

"We believe many homes had to buy a Roku stick to allow their TVs to receive Disney+," said Needham's research analyst Laura Martin.