Roku (NASDAQ:ROKU) Stock Rating Upgraded by Robert W. Baird

Roku (NASDAQ:ROKU) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $90.00 price target on the stock, up from their previous price target of $70.00. Robert W. Baird’s price target indicates a potential upside of 22.27% from the stock’s previous close.

A number of other analysts have also commented on ROKU. JPMorgan Chase & Co. raised their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Thursday, September 12th. Rosenblatt Securities raised their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.

Roku Stock Down 0.6 %

Shares of ROKU stock opened at $73.61 on Monday. The stock has a fifty day moving average of $74.53 and a 200 day moving average of $64.84. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of -61.34 and a beta of 2.07.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted ($2.33) earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Roku will post -1.1 earnings per share for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The trade was a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock worth $6,729,582 over the last three months. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sender Co & Partners Inc. bought a new position in Roku in the third quarter worth approximately $827,000. M&T Bank Corp increased its stake in shares of Roku by 19.1% in the 3rd quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after purchasing an additional 1,126 shares in the last quarter. Raelipskie Partnership purchased a new stake in shares of Roku in the 3rd quarter worth $32,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Roku by 14.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock worth $2,719,000 after purchasing an additional 4,500 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Roku by 9.8% in the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock worth $791,000 after purchasing an additional 948 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.