Wedbush Begins Coverage on Roku (ROKU)

Wedbush initiated coverage on shares of Roku (NASDAQ:ROKU) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $73.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Roku from a hold rating to a buy rating in a research report on Wednesday, October 3rd. Needham & Company LLC boosted their price objective on shares of Roku from $60.00 to $85.00 and gave the company a buy rating in a research report on Monday, October 1st. Citigroup boosted their price objective on shares of Roku to $72.00 and gave the company a neutral rating in a research report on Wednesday, September 12th. KeyCorp reissued an overweight rating and set a $81.00 price objective (up previously from $67.00) on shares of Roku in a research report on Tuesday, September 11th. Finally, Guggenheim assumed coverage on shares of Roku in a research report on Tuesday, September 4th. They set a buy rating and a $74.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Roku currently has an average rating of Buy and an average target price of $59.58.

Shares of ROKU stock opened at $65.64 on Friday. Roku has a 1 year low of $18.35 and a 1 year high of $77.57. The firm has a market cap of $7.75 billion and a PE ratio of -29.30.

In related news, SVP Stephen H. Kay sold 36,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $45.39, for a total value of $1,634,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony J. Wood sold 248,155 shares of the company’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $49.36, for a total transaction of $12,248,930.80. The disclosure for this sale can be found here. Insiders sold a total of 1,495,181 shares of company stock valued at $90,178,728 in the last ninety days. 0.55% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. United Services Automobile Association bought a new position in Roku in the 2nd quarter worth $317,000. Northern Trust Corp boosted its holdings in Roku by 1,322.1% in the 2nd quarter. Northern Trust Corp now owns 520,742 shares of the company’s stock worth $22,193,000 after buying an additional 484,125 shares during the period. Bank of New York Mellon Corp boosted its holdings in Roku by 588.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,695 shares of the company’s stock worth $6,039,000 after buying an additional 121,120 shares during the period. Verition Fund Management LLC bought a new position in Roku in the 2nd quarter worth $288,000. Finally, California Public Employees Retirement System bought a new position in Roku in the 2nd quarter worth $377,000. 33.75% of the stock is owned by institutional investors.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.

Recommended Story: Marijuana Stocks Investing Considerations

Analyst Recommendations for Roku (NASDAQ:ROKU)

Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply