Roku (NASDAQ:ROKU) Upgraded to Outperform by Wolfe Research

Wolfe Research upgraded shares of Roku (NASDAQ:ROKU) from a peer perform rating to an outperform rating in a report issued on Thursday morning, Marketbeat Ratings reports. Wolfe Research currently has $93.00 target price on the stock.

A number of other research analysts have also commented on the stock. Macquarie reduced their price target on shares of Roku from $88.00 to $72.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Benchmark restated a buy rating and issued a $105.00 target price on shares of Roku in a research note on Friday, August 2nd. Wedbush reiterated an outperform rating and set a $75.00 price target on shares of Roku in a research report on Friday, August 2nd. Needham & Company LLC restated a buy rating and issued a $100.00 price objective on shares of Roku in a research report on Thursday, June 20th. Finally, Guggenheim upgraded shares of Roku from a neutral rating to a buy rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $78.25.

Roku Stock Performance

Shares of ROKU opened at $74.13 on Thursday. Roku has a 52-week low of $48.33 and a 52-week high of $108.84. The stock’s 50-day simple moving average is $61.39 and its 200 day simple moving average is $60.56. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of -18.58 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) earnings per share. On average, research analysts forecast that Roku will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares in the company, valued at $784,160. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The disclosure for this sale can be found here. Insiders have sold a total of 5,491 shares of company stock valued at $355,755 over the last three months. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

A number of large investors have recently modified their holdings of the stock. Quarry LP lifted 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 buying an additional 266 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the period. Geneos Wealth Management Inc. raised its holdings in Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares in the last quarter. Finally, Cedar Wealth Management LLC purchased a new position in Roku during the second quarter valued at $48,000. Institutional investors own 86.30% of the company’s stock.

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.