Roku (NASDAQ:ROKU) Trading 0.2% Higher on Analyst Upgrade

Shares of Roku, Inc. (NASDAQ:ROKU) were up 0.2% during trading on Thursday after Macquarie raised their price target on the stock from $72.00 to $90.00. Macquarie currently has an outperform rating on the stock. Roku traded as high as $74.93 and last traded at $74.35. Approximately 509,015 shares changed hands during trading, a decline of 89% from the average daily volume of 4,493,279 shares. The stock had previously closed at $74.18.

Several other research firms also recently issued reports on ROKU. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday. Citigroup increased their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America raised their price objective on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average target price of $81.14.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roku news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at $784,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,156 shares of company stock valued at $3,481,100. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently made changes to their positions in ROKU. Swedbank AB bought a new stake in Roku during the 1st quarter valued at $1,180,000. SG Americas Securities LLC boosted its stake in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after acquiring an additional 51,815 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Roku by 23.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after buying an additional 11,851 shares during the period. Garde Capital Inc. acquired a new stake in Roku during the 4th quarter valued at $105,000. Finally, Vanguard Group Inc. boosted its position in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after acquiring an additional 92,658 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Price Performance

The firm’s fifty day moving average is $65.30 and its 200 day moving average is $61.74. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of -18.83 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period last year, the business posted ($0.76) earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Roku, Inc. will post -1.44 EPS for the current fiscal year.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.