Roku (NASDAQ:ROKU) Trading 1.3% Higher After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 1.3% during trading on Wednesday after Morgan Stanley raised their price target on the stock from $60.00 to $65.00. Morgan Stanley currently has an underweight rating on the stock. Roku traded as high as $77.61 and last traded at $77.39. Approximately 936,088 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 4,310,478 shares. The stock had previously closed at $76.41.

ROKU has been the topic of a number of other research reports. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, October 1st. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Tuesday, October 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.55.

Insider Activity

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock worth $5,254,000 over the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several hedge funds have recently bought and sold shares of ROKU. PFG Investments LLC raised its position in shares of Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after buying an additional 150 shares during the last quarter. Mcdonald Partners LLC lifted its position in shares of Roku by 0.9% during the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after buying an additional 175 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Roku by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after acquiring an additional 202 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Roku by 11.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after acquiring an additional 222 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Price Performance

The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of -19.40 and a beta of 2.08. The firm has a fifty day moving average of $72.95 and a 200 day moving average of $63.56.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts predict that Roku, Inc. will post -1.43 EPS for the current year.

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.