Moffett Nathanson Upgrades Roku (NASDAQ:ROKU) to “Neutral”

Roku (NASDAQ:ROKU) was upgraded by research analysts at Moffett Nathanson from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $70.00 target price on the stock. Moffett Nathanson’s price objective would indicate a potential downside of 17.71% from the company’s previous close.

A number of other research analysts also recently issued reports on ROKU. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Rosenblatt Securities restated a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday, February 13th. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $74.00 to $129.00 in a research report on Friday, February 14th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.71.

Roku Stock Up 5.8 %

Shares of NASDAQ ROKU opened at $85.07 on Tuesday. The firm’s 50-day simple moving average is $82.19 and its 200 day simple moving average is $76.66. The company has a market cap of $12.42 billion, a price-to-earnings ratio of -95.58 and a beta of 2.12. Roku has a 12-month low of $48.33 and a 12-month high of $104.96.

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

Insider Buying and Selling

In related news, CAO Matthew C. Banks sold 1,906 shares of the 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 completion of the sale, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares of the company’s stock, valued at $577,485. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 118,308 shares of company stock valued at $10,362,166. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently made changes to their positions in ROKU. US Bancorp DE grew its stake in shares of Roku by 15.7% during the 3rd quarter. US Bancorp DE now owns 3,090 shares of the company’s stock worth $231,000 after acquiring an additional 420 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Roku by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,806 shares of the company’s stock worth $657,000 after acquiring an additional 524 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Roku during the 3rd quarter worth approximately $214,000. United Advisor Group LLC bought a new position in shares of Roku during the 3rd quarter worth approximately $1,068,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Roku during the 3rd quarter worth approximately $274,000. 86.30% of the stock is owned by 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.