Roku (NASDAQ:ROKU) Coverage Initiated at Bank of America

Equities researchers at Bank of America began coverage on shares of Roku (NASDAQ:ROKU) in a research report issued on Thursday. The firm set a “buy” rating and a $100.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 28.42% from the company’s previous close.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Compass Point began coverage on Roku in a research note on Sunday. They set a “buy” rating on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday, February 13th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Roku in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Roku Stock Performance

ROKU opened at $77.87 on Thursday. Roku has a one year low of $48.33 and a one year high of $104.96. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of -87.49 and a beta of 2.12. The stock’s 50 day moving average price is $81.15 and its 200-day moving average price is $77.55.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, analysts predict that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,908 shares of company stock worth $8,633,436 in the last ninety days. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. raised its stake in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Roku during the 4th quarter worth $30,000. Raelipskie Partnership bought a new position in Roku during the third quarter worth $32,000. Game Plan Financial Advisors LLC bought a new stake in Roku in the 4th quarter valued at $37,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 shares in 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.