Roku (NASDAQ:ROKU) had its price objective hoisted by Morgan Stanley from $45.00 to $50.00 in a report released on Monday morning. The firm currently has an equal weight rating on the stock.
A number of other analysts also recently commented on ROKU. Cannonball Research upped their price objective on Roku from $68.00 to $97.00 and gave the stock a buy rating in a report on Monday, October 1st. Our analysis of the composition of advertising revenue growth gives us incremental comfort with our revenue forecast for FY18-20. It also supports our Buy thesis based on the belief that ROKU works only if the advertising revenue story works. We think that inventory sell through which has been a relatively small revenue driver so far can become more significant in the mid-term. BidaskClub upgraded Roku from a hold rating to a buy rating in a report on Saturday. Wedbush upgraded Roku from a neutral rating to an outperform rating and set a $65.00 price target for the company in a report on Thursday, November 1st. They noted that the move was a valuation call. Zacks Investment Research downgraded Roku from a buy rating to a hold rating in a report on Wednesday, July 11th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $48.00 price target on shares of Roku in a report on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Roku currently has an average rating of Buy and an average target price of $65.25.
Shares of ROKU stock traded down $0.15 on Monday, reaching $56.70. 16,090 shares of the stock were exchanged, compared to its average volume of 8,216,165. The company has a market cap of $6.14 billion, a price-to-earnings ratio of -25.10 and a beta of 3.59. Roku has a 1-year low of $18.56 and a 1-year high of $77.57.
In other Roku news, SVP Stephen H. Kay sold 36,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $60.89, for a total value of $2,192,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chas Smith sold 130,908 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $58.09, for a total transaction of $7,604,445.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,363,883 shares of company stock valued at $86,102,564. 0.55% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Roku by 408.3% during the second quarter. BlackRock Inc. now owns 3,245,130 shares of the company’s stock worth $138,307,000 after purchasing an additional 2,606,673 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Roku by 63.0% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,960,515 shares of the company’s stock worth $126,177,000 after purchasing an additional 1,144,727 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Roku by 901.7% during the third quarter. Wells Fargo & Company MN now owns 921,147 shares of the company’s stock worth $67,272,000 after purchasing an additional 829,193 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Roku during the second quarter worth about $31,972,000. Finally, EastBay Asset Management LLC bought a new position in shares of Roku during the second quarter worth about $25,971,000. 33.34% of the stock is owned by institutional investors.
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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