Roku (NASDAQ:ROKU – Get Free Report) was upgraded by equities researchers at Loop Capital from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has a $100.00 price objective on the stock, up from their prior price objective of $80.00. Loop Capital’s target price indicates a potential upside of 22.80% from the company’s previous close.
Several other research firms have also recently weighed in on ROKU. JMP Securities reissued a “market outperform” rating and issued a $95.00 price target on shares of Roku in a research note on Monday, June 2nd. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and increased their price target for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Compass Point assumed coverage on shares of Roku in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. Redburn Atlantic raised shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus target price of $89.93.
View Our Latest Stock Analysis on Roku
Roku Trading Up 1.0%
Roku (NASDAQ:ROKU – Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. Roku’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Roku will post -0.3 EPS for the current fiscal year.
Insiders Place Their Bets
In other Roku news, insider Charles Collier sold 3,590 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $85.00, for a total value of $305,150.00. Following the sale, the insider now directly owns 7,380 shares of the company’s stock, valued at approximately $627,300. This represents a 32.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dan Jedda sold 1,500 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $81.32, for a total transaction of $121,980.00. Following the completion of the sale, the chief financial officer now directly owns 80,632 shares in the company, valued at approximately $6,556,994.24. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,227 shares of company stock worth $4,994,244 in the last ninety days. 13.98% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Roku
Large investors have recently modified their holdings of the company. Garde Capital Inc. purchased a new stake in shares of Roku in the 1st quarter valued at approximately $25,000. Vision Financial Markets LLC purchased a new position in shares of Roku in the 4th quarter valued at $30,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Roku in the 1st quarter valued at $30,000. Banque Transatlantique SA purchased a new position in shares of Roku in the 1st quarter valued at $28,000. Finally, Golden State Wealth Management LLC grew its position in shares of Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after buying an additional 247 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.
About Roku
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.
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