Roku (ROKU) PT Raised to $49.00 at DA Davidson

Roku (NASDAQ:ROKU) had its target price lifted by equities research analysts at DA Davidson to $49.00 in a report issued on Thursday, The Fly reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective points to a potential upside of 1.30% from the stock’s current price. DA Davidson also issued estimates for Roku’s Q3 2018 earnings at ($0.14) EPS, FY2018 earnings at ($0.17) EPS, Q3 2019 earnings at ($0.15) EPS, Q4 2019 earnings at $0.01 EPS, FY2019 earnings at ($0.26) EPS, FY2020 earnings at $0.23 EPS, FY2021 earnings at $0.81 EPS and FY2022 earnings at $1.48 EPS.

A number of other research analysts have also issued reports on the company. Wedbush set a $65.00 target price on Roku and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research raised Roku from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday. Morgan Stanley lifted their target price on Roku from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday. BidaskClub raised Roku from a “hold” rating to a “buy” rating in a report on Saturday, November 3rd. Finally, Royal Bank of Canada raised Roku from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $48.00 to $70.00 in a research note on Friday, October 19th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $65.61.

NASDAQ:ROKU traded down $10.49 during mid-day trading on Thursday, reaching $48.37. 442,034 shares of the stock were exchanged, compared to its average volume of 8,133,614. The firm has a market cap of $5.90 billion, a P/E ratio of -21.76 and a beta of 3.59. Roku has a 1-year low of $18.56 and a 1-year high of $77.57.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The firm had revenue of $173.40 million for the quarter, compared to analyst estimates of $170.73 million. Roku had a negative return on equity of 60.24% and a negative net margin of 7.49%. Roku’s revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, equities analysts anticipate that Roku will post -0.14 earnings per share for the current fiscal year.

In other Roku news, Director Alan S. Henricks sold 26,000 shares of Roku stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $58.20, for a total transaction of $1,513,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Chas Smith sold 130,908 shares of Roku stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $58.09, for a total value of $7,604,445.72. The disclosure for this sale can be found here. Insiders sold a total of 1,363,883 shares of company stock worth $86,102,564 in the last three months. 0.55% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ROKU. Northern Trust Corp grew its stake in Roku by 4.3% during the 1st quarter. Northern Trust Corp now owns 36,617 shares of the company’s stock valued at $1,139,000 after acquiring an additional 1,494 shares in the last quarter. BlackRock Inc. grew its stake in Roku by 1.7% during the 1st quarter. BlackRock Inc. now owns 638,457 shares of the company’s stock valued at $19,857,000 after acquiring an additional 10,388 shares in the last quarter. Millennium Management LLC grew its stake in Roku by 2,420.5% during the 1st quarter. Millennium Management LLC now owns 130,637 shares of the company’s stock valued at $4,063,000 after acquiring an additional 125,454 shares in the last quarter. Legal & General Group Plc purchased a new position in Roku during the 1st quarter valued at about $302,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in Roku by 10.2% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,381 shares of the company’s stock valued at $613,000 after acquiring an additional 1,328 shares in the last quarter. 33.34% of the stock is currently 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.

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