Roku (NASDAQ:ROKU) Stock Rating Upgraded by Citizens Jmp

Citizens Jmp upgraded shares of Roku (NASDAQ:ROKU) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. JMP Securities started coverage on shares of Roku in a report on Tuesday. They set a “mkt outperform” rating and a $95.00 price target on the stock. Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company raised their price target on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Stock Down 0.2 %

Shares of ROKU stock opened at $79.60 on Tuesday. The firm has a market capitalization of $11.56 billion, a P/E ratio of -66.33 and a beta of 2.05. Roku has a twelve month low of $48.33 and a twelve month high of $99.80. The stock’s fifty day simple moving average is $76.87 and its 200 day simple moving average is $71.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.33) earnings per share. As a group, equities research analysts expect that Roku will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the transaction, the chief financial officer now owns 64,555 shares of the company’s stock, valued at $5,340,635.15. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,095 shares of company stock worth $5,726,218. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after acquiring an additional 244,793 shares during the period. Holocene Advisors LP bought a new position in Roku during the third quarter valued at $129,015,000. Westfield Capital Management Co. LP grew its holdings in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after purchasing an additional 856,401 shares during the period. Charles Schwab Investment Management Inc. increased its position in Roku by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after buying an additional 30,038 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after buying an additional 507,643 shares during the period. 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.