Zacks Investment Research lowered shares of Roku (NASDAQ:ROKU) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
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. “
A number of other analysts also recently weighed in on ROKU. Vetr downgraded shares of Roku from a strong-buy rating to a buy rating and set a $47.93 target price for the company. in a research report on Monday, January 29th. BidaskClub raised shares of Roku from a hold rating to a buy rating in a research report on Saturday, February 17th. Citigroup reaffirmed a positive rating and set a $33.00 price objective (up previously from $28.00) on shares of Roku in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price objective on shares of Roku to $45.00 and gave the stock a sector perform rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley reaffirmed an underweight rating and set a $32.00 price objective (up previously from $30.00) on shares of Roku in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $38.25.
NASDAQ:ROKU opened at $34.55 on Wednesday. The company has a market cap of $3.39 billion and a price-to-earnings ratio of -15.42. Roku has a fifty-two week low of $15.75 and a fifty-two week high of $58.80.
Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, May 9th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.08. The firm had revenue of $136.58 million for the quarter, compared to analyst estimates of $127.55 million. The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.79) EPS. equities research analysts forecast that Roku will post -0.34 earnings per share for the current fiscal year.
In other news, Director Alan S. Henricks sold 6,667 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $35.46, for a total transaction of $236,411.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Globespan Capital Partners V. L sold 1,596,131 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $32.99, for a total transaction of $52,656,361.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,907,070 shares of company stock valued at $62,715,374. Insiders own 0.55% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. lifted its holdings in shares of Roku by 280.3% in the 1st quarter. Thompson Davis & CO. Inc. now owns 3,803 shares of the company’s stock worth $118,000 after purchasing an additional 2,803 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Roku in the 4th quarter worth $130,000. BNP Paribas Arbitrage SA bought a new position in shares of Roku in the 1st quarter worth $156,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Roku by 5,900.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,000 shares of the company’s stock worth $187,000 after purchasing an additional 5,900 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of Roku in the 1st quarter worth $202,000. Institutional investors own 16.17% of the company’s stock.
Roku Company Profile
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
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