Roku (NASDAQ:ROKU) Upgraded by Citizens Jmp to “Strong-Buy” Rating

Roku (NASDAQ:ROKU) was upgraded by equities research analysts at Citizens Jmp to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on ROKU. Wells Fargo & Company upped their target price on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Rosenblatt Securities increased their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JMP Securities assumed coverage on Roku in a research note on Tuesday. They issued a “mkt outperform” rating and a $95.00 price objective for the company. Citigroup upped their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, UBS Group started coverage on shares of Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $79.60 on Tuesday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $99.80. The company has a market cap of $11.56 billion, a PE ratio of -66.33 and a beta of 2.05. The business has a 50-day simple moving average of $76.87 and a two-hundred day simple moving average of $71.06.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned ($2.33) EPS. Roku’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, sell-side analysts predict that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now owns 65,555 shares of the company’s stock, valued at approximately $4,916,625. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,095 shares of company stock valued at $5,726,218 in the last three months. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Holocene Advisors LP purchased a new stake in shares of Roku in the third quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP boosted its stake 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 worth $114,646,000 after buying an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Roku by 352.5% in the 3rd 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 in the last quarter. JAT Capital Mgmt LP increased its stake in shares of Roku by 470.2% in the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after acquiring an additional 445,777 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after acquiring an additional 244,793 shares during the period. Hedge funds and other 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.