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

Shares of Roku, Inc. (NASDAQ:ROKU) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $78.75.

Several analysts recently issued reports on the stock. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Bank of America dropped their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Thursday, September 12th. Finally, Wedbush reiterated an “outperform” rating and set a $75.00 target price on shares of Roku in a report on Friday, August 2nd.

Roku Price Performance

Shares of ROKU stock opened at $76.02 on Friday. The firm’s 50-day moving average is $63.33 and its two-hundred day moving average is $61.16. Roku has a 12 month low of $48.33 and a 12 month high of $108.84. The company has a market capitalization of $11.00 billion, a PE ratio of -19.05 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) earnings per share. Sell-side analysts forecast that Roku will post -1.45 EPS for the current year.

Insider Buying and Selling at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders sold 46,945 shares of company stock worth $3,465,135 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. raised its stake in shares of Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Norges Bank acquired a new stake in shares of Roku during the fourth quarter worth $90,386,000. Quadrature Capital Ltd purchased a new position in Roku in the 4th quarter valued at $35,856,000. Finally, Vanguard Group Inc. increased its stake in Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after buying an additional 380,409 shares during the period. 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.