Macquarie Reaffirms “Outperform” Rating for Roku (NASDAQ:ROKU)

Roku (NASDAQ:ROKUGet Free Report)‘s stock had its “outperform” rating restated by research analysts at Macquarie in a research note issued to investors on Thursday, Benzinga reports. They presently have a $90.00 target price on the stock. Macquarie’s target price would indicate a potential upside of 45.96% from the company’s current price.

ROKU has been the topic of several other reports. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Thursday. Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Citigroup boosted their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Roku currently has a consensus rating of “Hold” and a consensus price target of $83.80.

Check Out Our Latest Stock Report on Roku

Roku Stock Down 20.4 %

ROKU stock traded down $15.85 during midday trading on Thursday, reaching $61.66. The stock had a trading volume of 7,134,500 shares, compared to its average volume of 4,349,101. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of -15.99 and a beta of 2.08. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The business has a fifty day simple moving average of $73.24 and a two-hundred day simple moving average of $63.66.

Roku (NASDAQ:ROKUGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($2.33) earnings per share. Roku’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts predict that Roku will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the transaction, the chief financial officer now owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock worth $5,254,000 over the last quarter. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

A number of large investors have recently made changes to their positions in the company. Nikko Asset Management Americas Inc. increased its holdings in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares during the period. Canada Pension Plan Investment Board increased its stake in Roku by 138.1% in the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after acquiring an additional 198,600 shares during the last quarter. AQR Capital Management LLC lifted its stake in Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after purchasing an additional 191,831 shares during the last quarter. ARK Investment Management LLC boosted its stake in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Finally, Andra AP fonden grew its position in Roku by 116.6% in the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock valued at $17,613,000 after acquiring an additional 158,200 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

About Roku

(Get Free Report)

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.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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