Roku (NASDAQ:ROKU) Now Covered by Bank of America

Research analysts at Bank of America began coverage on shares of Roku (NASDAQ:ROKU) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating and a $100.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 37.95% from the stock’s previous close.

Several other brokerages also recently weighed in on ROKU. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Rosenblatt Securities reiterated a “neutral” rating and issued a $86.00 target price on shares of Roku in a report on Thursday, February 13th. Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Roku in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.55.

Roku Stock Down 4.7 %

ROKU opened at $72.49 on Thursday. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The business has a fifty day simple moving average of $81.10 and a 200-day simple moving average of $77.59. The firm has a market cap of $10.58 billion, a P/E ratio of -81.45 and a beta of 2.12.

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

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 1,906 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the sale, the chief executive officer now owns 6,243 shares of the company’s stock, valued at $468,225. This trade represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,908 shares of company stock worth $8,633,436 in the last 90 days. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently modified their holdings of the stock. FMR LLC grew its position in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after buying an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Roku by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after acquiring an additional 185,676 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after acquiring an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after purchasing an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after purchasing an additional 56,820 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.