Roku (NASDAQ:ROKU) Upgraded at BidaskClub

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BidaskClub upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a buy rating in a report released on Thursday, BidAskClub reports.

Several other research analysts have also recently weighed in on the stock. Stephens began coverage on shares of Red River Bancshares in a research report on Tuesday, May 28th. They issued an equal weight rating and a $54.00 price objective on the stock. Macquarie restated a neutral rating on shares of Iberdrola in a research report on Wednesday, March 13th. Morgan Stanley upped their price objective on shares of Wynn Resorts from $130.00 to $135.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Loop Capital upped their price objective on shares of Coupa Software to $105.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. Finally, Rosenblatt Securities restated a neutral rating on shares of Roku in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $82.87.

ROKU stock opened at $102.47 on Thursday. The stock has a 50 day moving average of $98.01. The company has a market capitalization of $11.62 billion, a PE ratio of -1,280.88 and a beta of 2.03. Roku has a 1-year low of $26.30 and a 1-year high of $108.32.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.15. The company had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $189.80 million. Roku had a negative net margin of 1.47% and a negative return on equity of 4.60%. Roku’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. On average, sell-side analysts predict that Roku will post -0.57 EPS for the current year.

In other Roku news, SVP Stephen H. Kay sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $57.92, for a total value of $173,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Hastings sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $56.20, for a total value of $337,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 712,733 shares of company stock valued at $68,805,142. 22.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Meridian Wealth Management LLC purchased a new stake in shares of Roku during the first quarter valued at approximately $573,000. FMR LLC boosted its stake in shares of Roku by 12.1% during the first quarter. FMR LLC now owns 7,108,246 shares of the company’s stock valued at $458,553,000 after purchasing an additional 767,418 shares during the period. Norges Bank purchased a new stake in shares of Roku during the fourth quarter valued at approximately $14,477,000. First Republic Investment Management Inc. boosted its stake in shares of Roku by 30.9% during the first quarter. First Republic Investment Management Inc. now owns 16,669 shares of the company’s stock valued at $1,075,000 after purchasing an additional 3,933 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Roku by 34.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 75,815 shares of the company’s stock valued at $4,891,000 after purchasing an additional 19,486 shares during the period. 50.49% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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