Roku (NASDAQ:ROKU) Upgraded by Redburn Atlantic to Buy Rating

Redburn Atlantic upgraded shares of Roku (NASDAQ:ROKU) from a neutral rating to a buy rating in a report published on Monday, Marketbeat reports. Redburn Atlantic currently has $100.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $86.00 target price on shares of Roku in a report on Thursday, February 13th. Compass Point began coverage on Roku in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $129.00 in a report on Friday, February 14th. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and upped their target price for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. Finally, Citigroup upgraded shares of Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average target price of $96.70.

Roku Stock Up 15.9 %

ROKU stock opened at $63.86 on Monday. The business’s 50-day simple moving average is $77.29 and its 200 day simple moving average is $76.79. The company has a market cap of $9.32 billion, a PE ratio of -71.75 and a beta of 2.17. Roku has a twelve month low of $48.33 and a twelve month high of $104.96.

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

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the sale, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at approximately $5,878,922. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,905 shares of company stock valued at $8,632,306. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Institutional investors have recently modified their holdings of the business. Weiss Asset Management LP acquired a new stake in shares of Roku during the 3rd quarter worth about $616,000. National Bank of Canada FI increased its holdings in shares of Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Roku by 274.0% in the 3rd quarter. XTX Topco Ltd now owns 14,834 shares of the company’s stock worth $1,108,000 after acquiring an additional 10,868 shares during the period. MML Investors Services LLC raised its stake in shares of Roku by 9.8% during the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock worth $791,000 after buying an additional 948 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Roku by 14.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

About Roku

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.