Roku (NASDAQ:ROKU) Upgraded to Strong-Buy at Baird R W

Roku (NASDAQ:ROKU) was upgraded by stock analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

ROKU has been the subject of a number of other reports. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $90.00 in a report on Monday. Benchmark restated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Macquarie reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Wedbush boosted their price objective on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Roku Price Performance

Shares of Roku stock opened at $74.03 on Monday. The stock’s 50-day moving average is $74.36 and its 200 day moving average is $64.74. Roku has a one year low of $48.33 and a one year high of $108.84. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of -61.69 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.33) earnings per share. On average, sell-side analysts expect that Roku will post -1.1 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,776 shares of company stock worth $5,267,305 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several large investors have recently modified their holdings of the stock. Raelipskie Partnership bought a new position in Roku during the third quarter valued at $32,000. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Roku in the 3rd quarter worth about $43,000. GS Investments Inc. raised its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. Finally, Cedar Wealth Management LLC bought a new stake in Roku in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors 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.