Roku (NASDAQ:ROKU) had its target price raised by investment analysts at DA Davidson to $44.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective indicates a potential downside of 24.20% from the stock’s previous close. DA Davidson also issued estimates for Roku’s Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at $0.01 EPS, FY2018 earnings at ($0.18) EPS, FY2019 earnings at ($0.27) EPS, FY2020 earnings at $0.22 EPS, FY2021 earnings at $0.80 EPS and FY2022 earnings at $1.47 EPS.
Several other research firms have also weighed in on ROKU. Citigroup lifted their price target on Roku from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer boosted their target price on Roku from $50.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Investment Research raised Roku from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, July 20th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price (up from $50.00) on shares of Roku in a report on Monday, July 23rd. Finally, KeyCorp boosted their target price on Roku from $44.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, July 17th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $50.68.
Shares of Roku traded up $0.73, hitting $58.05, during mid-day trading on Friday, according to MarketBeat. 22,371,330 shares of the stock traded hands, compared to its average volume of 7,523,839. Roku has a 52 week low of $15.75 and a 52 week high of $60.65. The firm has a market capitalization of $5.71 billion and a PE ratio of -25.92.
Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. Roku had a negative return on equity of 151.74% and a negative net margin of 7.49%. The company had revenue of $136.58 million for the quarter, compared to analyst estimates of $127.55 million. During the same period in the previous year, the company posted ($1.79) earnings per share. The firm’s revenue was up 36.5% on a year-over-year basis. research analysts predict that Roku will post -0.16 EPS for the current year.
In other Roku news, SVP Stephen H. Kay sold 36,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $45.39, for a total value of $1,634,040.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan S. Henricks sold 6,667 shares of the company’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $35.46, for a total value of $236,411.82. The disclosure for this sale can be found here. Insiders sold 922,216 shares of company stock worth $41,217,758 over the last three months. Corporate insiders own 0.55% of the company’s stock.
Several large investors have recently made changes to their positions in ROKU. Thompson Davis & CO. Inc. lifted its holdings in shares of Roku by 280.3% during the first 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 in the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Roku during the first quarter valued at $156,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Roku by 5,900.0% during the first 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 in the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of Roku during the first quarter valued at $202,000. Finally, Rikoon Group LLC bought a new position in shares of Roku during the first quarter valued at $202,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.
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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