Zacks Investment Research upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a buy rating in a research report sent to investors on Friday morning. Zacks Investment Research currently has $55.00 price objective on the stock.
According to Zacks, “Roku, Inc. is involved in creating streaming platform for delivering entertainment to the television. The Company’s products primarily includes Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories such as cables, remote controls, power adapters and headphones. It operates primarily in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France. Roku, Inc. is based in SARATOGA, United States. “
Get Roku alerts:Other research analysts have also recently issued reports about the company. Oppenheimer raised Roku from a market perform rating to an outperform rating and set a $50.00 target price on the stock in a research report on Tuesday, July 3rd. BidaskClub raised Roku from a sell rating to a hold rating in a research report on Wednesday, May 9th. Macquarie started coverage on Roku in a research report on Thursday, June 14th. They set an outperform rating and a $49.00 price objective on the stock. ValuEngine raised Roku from a strong sell rating to a sell rating in a research report on Monday, April 2nd. Finally, UBS Group raised Roku from a market perform rating to an outperform rating in a research report on Tuesday, July 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $43.68.
Roku traded down $0.02, hitting $49.77, on Friday, Marketbeat reports. The stock had a trading volume of 4,556,599 shares, compared to its average volume of 6,367,259. The stock has a market capitalization of $4.96 billion and a price-to-earnings ratio of -22.22. Roku has a 52-week low of $15.75 and a 52-week high of $58.80.
Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.08. The firm had revenue of $136.58 million during the quarter, compared to analysts’ expectations of $127.55 million. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.79) earnings per share. equities analysts forecast that Roku will post -0.3 earnings per share for the current year.
In related news, CEO Anthony J. Wood sold 248,578 shares of Roku stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $43.73, for a total transaction of $10,870,315.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Chas Smith sold 87,272 shares of Roku stock in a transaction that occurred on Wednesday, April 25th. The shares were sold at an average price of $31.95, for a total value of $2,788,340.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 922,216 shares of company stock worth $39,356,537. Insiders own 0.55% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. raised its stake in Roku by 280.3% during the 1st quarter. Thompson Davis & CO. Inc. now owns 3,803 shares of the company’s stock valued at $118,000 after purchasing an additional 2,803 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Roku during the 4th quarter valued at approximately $130,000. BNP Paribas Arbitrage SA bought a new stake in Roku during the 1st quarter valued at approximately $156,000. Wealthcare Advisory Partners LLC raised its stake in Roku by 5,900.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,000 shares of the company’s stock valued at $187,000 after purchasing an additional 5,900 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in Roku during the 1st quarter valued at approximately $202,000. 16.52% of the stock is currently owned by institutional investors.
Roku Company Profile
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
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