Roku (NASDAQ:ROKU) Shares Up 2.3% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price shot up 2.3% during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $60.00 to $65.00. Morgan Stanley currently has an underweight rating on the stock. Roku traded as high as $77.25 and last traded at $76.99. 529,082 shares were traded during mid-day trading, a decline of 88% from the average session volume of 4,330,803 shares. The stock had previously closed at $75.27.

Several other brokerages also recently commented on ROKU. Robert W. Baird boosted their target price on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Bank of America lifted their target price on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Macquarie raised their price objective on Roku from $72.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus target price of $82.55.

Insider Activity at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on 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 $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Roku news, insider Charles Collier sold 15,454 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,566 shares of company stock worth $5,254,000. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new stake in Roku during the third quarter worth approximately $43,000. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the period. Geneos Wealth Management Inc. raised its stake in Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in Roku during the second quarter worth about $48,000. Finally, Natixis bought a new stake in Roku during the first quarter worth about $53,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Up 0.5 %

The business’s 50 day simple moving average is $72.66 and its 200-day simple moving average is $63.44. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of -19.15 and a beta of 2.08.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the firm posted ($0.76) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Roku, Inc. will post -1.43 earnings per share for the current year.

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.