Roku (NASDAQ:ROKU) Upgraded to Overweight at Stephens

Roku (NASDAQ:ROKU) was upgraded by equities research analysts at Stephens from an “equal” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $120.00 target price on the stock, up from their prior target price of $84.00. Stephens’ target price would suggest a potential downside of 10.89% from the company’s previous close.

Other research analysts have also issued research reports about the company. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $119.00 in a research report on Wednesday, June 5th. ValuEngine lowered Roku from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price target (up previously from $85.00) on shares of Roku in a research report on Wednesday, May 29th. BidaskClub lowered Roku from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada lowered Roku from an “outperform” rating to a “sector perform” rating and set a $90.00 price objective for the company. in a report on Monday, July 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Roku has a consensus rating of “Hold” and an average price target of $102.98.

ROKU stock traded up $9.35 during trading on Thursday, reaching $134.67. 507,819 shares of the company’s stock were exchanged, compared to its average volume of 9,337,820. Roku has a 1-year low of $26.30 and a 1-year high of $128.20. The company has a fifty day simple moving average of $102.57. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of -1,676.13 and a beta of 2.04.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.14. Roku had a negative return on equity of 7.91% and a negative net margin of 2.41%. The company had revenue of $250.10 million during the quarter, compared to analyst estimates of $223.36 million. The company’s revenue for the quarter was up 59.5% compared to the same quarter last year. On average, equities research analysts forecast that Roku will post -0.58 EPS for the current year.

In other news, Director Jeff Hastings sold 2,222 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $92.00, for a total transaction of $204,424.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott A. Rosenberg sold 3,356 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $94.60, for a total value of $317,477.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 671,733 shares of company stock valued at $67,177,042. Insiders own 22.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in ROKU. PNC Financial Services Group Inc. raised its position in shares of Roku by 100.0% during the first quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the period. CWM LLC acquired a new stake in shares of Roku during the first quarter worth $32,000. James Investment Research Inc. acquired a new stake in shares of Roku during the first quarter worth $32,000. Wealthcare Advisory Partners LLC raised its position in shares of Roku by 1,000.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock worth $35,000 after purchasing an additional 500 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Roku during the first quarter worth $42,000. 50.27% of the stock is currently owned by institutional investors.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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