Roku (NASDAQ:ROKU) Coverage Initiated by Analysts at Bank of America

Bank of America started coverage on shares of Roku (NASDAQ:ROKU) in a report released on Thursday. The firm issued a buy rating and a $100.00 target price on the stock.

ROKU has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Compass Point began coverage on shares of Roku in a report on Sunday. They issued a “buy” rating for the company. Benchmark boosted their target price on Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price target on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Citizens Jmp upgraded Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Trading Down 2.3 %

ROKU opened at $76.05 on Thursday. The business’s 50 day moving average is $81.16 and its 200-day moving average is $77.54. The stock has a market cap of $11.10 billion, a PE ratio of -85.45 and a beta of 2.12. Roku has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. As a group, analysts forecast that Roku will post -0.3 EPS for the current year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock worth $8,633,436 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after purchasing an additional 121 shares during the last quarter. United Advisor Group LLC lifted its holdings in shares of Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after buying an additional 130 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Roku by 0.5% in the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after buying an additional 145 shares in the last quarter. Richard W. Paul & Associates LLC increased its holdings in Roku by 1.1% in the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after buying an additional 177 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Roku by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock worth $287,000 after buying an additional 191 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.