BidaskClub upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a buy rating and issued a $60.00 price target (up previously from $50.00) on shares of Roku in a report on Monday, July 23rd. Zacks Investment Research upgraded Roku from a hold rating to a buy rating and set a $55.00 price target for the company in a report on Friday, July 20th. Guggenheim initiated coverage on Roku in a report on Tuesday, September 4th. They issued a buy rating and a $74.00 price target for the company. Cannonball Research upped their price target on Roku from $68.00 to $97.00 and gave the stock a buy rating in a report on Monday, October 1st. Our analysis of the composition of advertising revenue growth gives us incremental comfort with our revenue forecast for FY18-20. It also supports our Buy thesis based on the belief that ROKU works only if the advertising revenue story works. We think that inventory sell through which has been a relatively small revenue driver so far can become more significant in the mid-term. Finally, ValuEngine upgraded Roku from a hold rating to a buy rating in a report on Wednesday, October 3rd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $64.54.
NASDAQ ROKU opened at $56.85 on Friday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -25.38 and a beta of 3.59. Roku has a fifty-two week low of $18.56 and a fifty-two week high of $77.57.
In other Roku news, SVP Stephen H. Kay sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $60.89, for a total value of $2,192,040.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Chas Smith sold 99,129 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $52.08, for a total value of $5,162,638.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,363,883 shares of company stock worth $86,102,564. 0.55% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Northern Trust Corp raised its position in shares of Roku by 4.3% during the 1st quarter. Northern Trust Corp now owns 36,617 shares of the company’s stock valued at $1,139,000 after acquiring an additional 1,494 shares in the last quarter. BlackRock Inc. raised its position in shares of Roku by 1.7% during the 1st quarter. BlackRock Inc. now owns 638,457 shares of the company’s stock valued at $19,857,000 after acquiring an additional 10,388 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Roku during the 1st quarter valued at approximately $156,000. Stifel Financial Corp raised its position in shares of Roku by 75.0% during the 1st quarter. Stifel Financial Corp now owns 9,050 shares of the company’s stock valued at $281,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Roku by 81.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,928 shares of the company’s stock valued at $246,000 after acquiring an additional 3,562 shares in the last quarter. 33.34% of the stock is currently owned by 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.
Further Reading: How Do I Invest in Dividend Stocks
Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.