DA Davidson upgraded shares of Roku (NASDAQ:ROKU) from a neutral rating to a buy rating in a research note released on Monday, MarketBeat reports. They currently have $49.00 price target on the stock.
Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Roku from a hold rating to a buy rating in a research report on Wednesday, October 3rd. Cannonball Research boosted their price target on shares of Roku from $68.00 to $97.00 and gave the stock a buy rating in a research 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. Needham & Company LLC boosted their price target on shares of Roku from $60.00 to $85.00 and gave the stock a buy rating in a research report on Monday, October 1st. Guggenheim started coverage on shares of Roku in a research report on Tuesday, September 4th. They issued a buy rating and a $74.00 price target on the stock. Finally, BidaskClub cut shares of Roku from a strong-buy rating to a buy rating in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $65.61.
Shares of ROKU opened at $40.82 on Monday. Roku has a fifty-two week low of $29.00 and a fifty-two week high of $77.57. The firm has a market capitalization of $4.34 billion, a P/E ratio of -18.22 and a beta of 3.24.
Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, November 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. Roku had a negative net margin of 1.33% and a negative return on equity of 4.46%. The company had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $170.73 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. Roku’s quarterly revenue was up 38.9% on a year-over-year basis. On average, analysts forecast that Roku will post -0.13 EPS for the current fiscal year.
In other Roku news, SVP Stephen H. Kay sold 36,000 shares of Roku stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $41.59, for a total transaction of $1,497,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chas Smith sold 82,811 shares of Roku stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $72.64, for a total transaction of $6,015,391.04. The disclosure for this sale can be found here. Insiders have sold 836,489 shares of company stock valued at $55,135,368 over the last ninety days. 0.55% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in Roku during the third quarter worth $128,000. Stratos Wealth Partners LTD. purchased a new position in Roku during the third quarter worth $130,000. Patten Group Inc. boosted its stake in Roku by 671.5% during the third quarter. Patten Group Inc. now owns 2,006 shares of the company’s stock worth $146,000 after buying an additional 1,746 shares during the period. SevenBridge Financial Group LLC purchased a new position in Roku during the second quarter worth $158,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Roku during the third quarter worth $168,000. 46.35% 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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