Roku (NASDAQ:ROKU) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a buy rating in a research note issued to investors on Wednesday, January 10th. The firm currently has $53.00 price target on the stock.

According to Zacks, “Roku, Inc. is involved in creating streaming platform for delivering entertainment to the television. The Company’s products primarily includes Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories such as cables, remote controls, power adapters and headphones. It operates primarily in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France. Roku, Inc. is based in SARATOGA, United States. “

Several other research firms have also weighed in on ROKU. Vetr raised Roku from a buy rating to a strong-buy rating and set a $50.90 target price on the stock in a research note on Wednesday, November 29th. Morgan Stanley started coverage on Roku in a research note on Monday, October 23rd. They issued an equal weight rating and a $22.00 target price on the stock. Needham & Company LLC reissued a buy rating and issued a $50.00 target price (up previously from $28.00) on shares of Roku in a research note on Monday, November 27th. UBS Group lowered Roku from a market perform rating to an underperform rating in a research note on Tuesday, November 14th. Finally, Oppenheimer started coverage on Roku in a research note on Monday, October 23rd. They issued a market perform rating and a $26.00 target price on the stock. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Roku presently has a consensus rating of Hold and a consensus price target of $35.16.

Shares of Roku (NASDAQ ROKU) traded down $0.70 during mid-day trading on Wednesday, hitting $39.92. The stock had a trading volume of 2,520,000 shares, compared to its average volume of 6,030,000. The company has a market capitalization of $3,910.00 and a PE ratio of -56.23. Roku has a 12 month low of $15.75 and a 12 month high of $58.80. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of -0.09.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.68) by $1.58. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $110.47 million. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. equities research analysts forecast that Roku will post -2.32 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kessler Investment Group LLC acquired a new stake in shares of Roku during the fourth quarter worth about $254,000. DAVENPORT & Co LLC acquired a new stake in Roku in the 4th quarter valued at approximately $324,000. Oppenheimer Asset Management Inc. acquired a new stake in Roku in the 3rd quarter valued at approximately $216,000. IFC Holdings Incorporated FL acquired a new stake in Roku in the 4th quarter valued at approximately $517,000. Finally, SG Americas Securities LLC acquired a new stake in Roku in the 3rd quarter valued at approximately $273,000. 23.44% of the stock is currently owned by institutional investors.

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Roku Company Profile

Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.

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