Roku (NASDAQ:ROKU) Upgraded to “Buy” at BidaskClub

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BidaskClub upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a buy rating in a report released on Thursday, BidAskClub reports.

ROKU has been the topic of a number of other reports. Susquehanna Bancshares started coverage on shares of Roku in a report on Monday, April 22nd. They set a positive rating and a $80.00 target price on the stock. Guggenheim downgraded shares of Inflarx from a buy rating to a neutral rating and lowered their target price for the stock from $65.00 to $6.00 in a report on Wednesday, June 5th. Wedbush set a $18.00 target price on shares of Catabasis Pharmaceuticals and gave the stock a buy rating in a report on Monday, June 24th. Needham & Company LLC boosted their target price on shares of Cara Therapeutics from $28.00 to $35.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research downgraded shares of HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $82.87.

Shares of ROKU stock opened at $102.47 on Thursday. The stock has a fifty day simple moving average of $98.01. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of -1,280.88 and a beta of 2.03. Roku has a 12 month low of $26.30 and a 12 month high of $108.32.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.15. The business had revenue of $206.70 million for the quarter, compared to the consensus estimate of $189.80 million. Roku had a negative net margin of 1.47% and a negative return on equity of 4.60%. The firm’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, analysts forecast that Roku will post -0.57 EPS for the current fiscal year.

In other news, SVP Stephen H. Kay sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $57.92, for a total value of $173,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total transaction of $240,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 706,733 shares of company stock valued at $68,467,942. 22.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in 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. James Investment Research Inc. bought a new stake in Roku during the first quarter worth about $32,000. CWM LLC bought a new stake in Roku during the first quarter worth about $32,000. Wealthcare Advisory Partners LLC lifted its position in 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 bought a new stake in Roku during the first quarter worth about $42,000. 50.49% of the stock is owned by institutional investors and hedge funds.

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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