Roku Inc’s Lock-Up Period To End Tomorrow (NASDAQ:ROKU)

Roku’s (NASDAQ:ROKU) lock-up period is set to end on Tuesday, March 27th. Roku had issued 15,668,000 shares in its initial public offering on September 28th. The total size of the offering was $219,352,000 based on an initial share price of $14.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Several research firms have issued reports on ROKU. Morgan Stanley lowered Roku from an “equal weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Thursday, January 4th. Vetr lowered Roku from a “sell” rating to a “strong sell” rating and set a $48.47 price objective for the company. in a research note on Wednesday, January 3rd. Citigroup lowered Roku from a “neutral” rating to a “sell” rating and set a $24.00 price objective for the company. in a research note on Friday, January 5th. Zacks Investment Research upgraded Roku from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, January 4th. Finally, Royal Bank of Canada increased their price objective on Roku to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $40.36.

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Shares of Roku (ROKU) opened at $32.06 on Monday. Roku has a 12 month low of $15.75 and a 12 month high of $58.80.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, February 21st. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.17. The business had revenue of $188.30 million during the quarter, compared to analyst estimates of $182.54 million. The business’s revenue was up 27.8% compared to the same quarter last year. analysts forecast that Roku will post -0.47 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Roku in the fourth quarter valued at $130,000. MYDA Advisors LLC acquired a new stake in shares of Roku in the fourth quarter valued at $207,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Roku in the third quarter valued at $216,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Roku in the fourth quarter valued at $247,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of Roku in the fourth quarter valued at $254,000. Institutional investors own 10.29% of the company’s stock.

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Roku Company Profile

Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.

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