Roku (NASDAQ:ROKU) Stock Price Up 0.2% on Analyst Upgrade

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 0.2% during trading on Thursday after Macquarie raised their price target on the stock from $72.00 to $90.00. Macquarie currently has an outperform rating on the stock. Roku traded as high as $74.93 and last traded at $74.35. 509,015 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,493,279 shares. The stock had previously closed at $74.18.

Other research analysts have also recently issued research reports about the company. Citigroup increased their price objective on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Robert W. Baird upped their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price target on Roku from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Roku has a consensus rating of “Hold” and an average price target of $81.14.

Insider Activity at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,156 shares of company stock valued at $3,481,100. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. Quarry LP boosted its holdings in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 375 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 610 shares during the period. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Roku during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

The company has a 50 day moving average price of $65.30 and a 200 day moving average price of $61.74. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of -18.83 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.76) EPS. On average, research analysts forecast that Roku, Inc. will post -1.44 earnings per share for the current year.

Roku Company Profile

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.