Roku (NASDAQ:ROKU) Trading 4.7% Higher on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares shot up 4.7% during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $45.00 to $52.00. Wells Fargo & Company currently has an underweight rating on the stock. Roku traded as high as $59.38 and last traded at $59.00. 2,126,186 shares changed hands during trading, a decline of 63% from the average session volume of 5,750,474 shares. The stock had previously closed at $56.35.

Other research analysts also recently issued reports about the company. Stephens reiterated an “overweight” rating and set a $105.00 target price on shares of Roku in a research report on Friday, February 16th. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Morgan Stanley lowered their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Citigroup lowered their target price on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.47.

Insider Transactions at Roku

In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Charles Collier sold 4,182 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now owns 8,474 shares in the company, valued at $550,810. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in Roku in the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV bought a new position in Roku in the fourth quarter worth about $29,000. Quarry LP raised its holdings in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares in the last quarter. Federated Hermes Inc. bought a new position in Roku in the third quarter worth about $37,000. Finally, Headinvest LLC bought a new position in Roku in the third quarter worth about $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Price Performance

The firm has a market capitalization of $8.41 billion, a P/E ratio of -14.81 and a beta of 1.66. The stock’s fifty day simple moving average is $62.80 and its 200 day simple moving average is $78.57.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the previous year, the company posted ($1.38) earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts forecast that Roku, Inc. will post -2.12 EPS for the current fiscal 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.