Roku, Inc. (NASDAQ:ROKU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Roku, Inc. (NASDAQ:ROKU) have earned an average rating of “Moderate Buy” from the twenty-four brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $82.62.

A number of research firms have weighed in on ROKU. Rosenblatt Securities upped their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. UBS Group started coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price for the company. Macquarie reiterated an “outperform” rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th.

Roku Stock Up 9.6 %

NASDAQ ROKU opened at $82.94 on Thursday. The stock has a market cap of $12.04 billion, a PE ratio of -69.12 and a beta of 2.06. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The business has a 50 day moving average price of $73.86 and a two-hundred day moving average price of $65.72.

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

Insiders Place Their Bets

In other news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the transaction, the insider now directly owns 200 shares in the company, valued at $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,550 shares of company stock valued at $6,621,873 over the last three months. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ROKU. Franklin Resources Inc. grew its holdings in Roku by 14.5% during the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock worth $6,275,000 after acquiring an additional 10,416 shares during the period. Sender Co & Partners Inc. acquired a new position in Roku during the third quarter worth about $827,000. M&T Bank Corp grew its holdings in Roku by 19.1% during the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after acquiring an additional 1,126 shares during the period. Raelipskie Partnership acquired a new position in Roku during the third quarter worth about $32,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Roku by 14.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock worth $2,719,000 after acquiring an additional 4,500 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.