Roku (NASDAQ:ROKU) Upgraded at Baird R W

Roku (NASDAQ:ROKU) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also weighed in on ROKU. Wedbush upped their target price on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $90.00 in a research note on Monday. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Morgan Stanley increased their price target on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, Citigroup lifted their price objective on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. 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 company’s stock. Based on data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Roku Stock Performance

Shares of ROKU opened at $73.61 on Monday. The stock has a market capitalization of $10.69 billion, a P/E ratio of -61.34 and a beta of 2.07. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The company’s fifty day moving average is $74.53 and its two-hundred day moving average is $64.84.

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

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,240 shares of company stock worth $6,729,582 over the last three months. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. Raelipskie Partnership acquired a new position in shares of Roku in the third quarter valued at $32,000. EverSource Wealth Advisors LLC grew its stake 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. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the third quarter worth approximately $43,000. GS Investments Inc. increased its position in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Roku during the second quarter worth $48,000. Institutional investors own 86.30% of the company’s stock.

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.