Roku (NASDAQ:ROKU) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Roku (NASDAQ:ROKU) from a neutral rating to an outperform rating in a research report sent to investors on Monday, Marketbeat.com reports. They currently have $90.00 price objective on the stock, up from their prior price objective of $70.00.

Other equities analysts also recently issued reports about the stock. Macquarie reissued an “outperform” rating and set a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Wedbush lifted their price target on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Roku in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Loop Capital lifted their price target on shares of Roku from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Roku Stock Performance

Shares of Roku stock opened at $68.71 on Monday. The firm’s 50-day simple moving average is $74.69 and its 200-day simple moving average is $64.94. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The firm has a market cap of $9.98 billion, a P/E ratio of -56.64 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned ($2.33) EPS. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts forecast that Roku will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Large investors have recently bought and sold shares of the company. Raelipskie Partnership bought a new position in shares of Roku in the third quarter worth about $32,000. Future Financial Wealth Managment LLC bought a new position in Roku in the 3rd quarter valued at approximately $43,000. GS Investments Inc. raised its holdings in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new position in Roku in the 2nd quarter valued at approximately $48,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.