Roku dips despite beating Q2 estimates

** Shares of streaming platform Roku ROKU.O down ~5% at $89 in premarket trading

** Co topped Wall Street estimates for second-quarter revenue on Thursday, helped by its expanding user base and advertising sales

** J.P. Morgan raises PT to $105 from $100, an 11.5% upside to the stock's last close, maintains "overweight" rating on stock

** Brokerage expects ROKU's Connected TV (CTV) to be among the fastest-growing advertising mediums over the next 3–5 years, driven by a steady shift in ad budgets from traditional linear TV to streaming platforms

** Co reported revenue of $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG

** On average, stock is rated "buy" by 33 analysts; median PT is $100 - LSEG data

** Up to last close, stock up ~27% YTD