Moffett Nathanson Upgrades Roku (NASDAQ:ROKU) to “Neutral”

Roku (NASDAQ:ROKU) was upgraded by investment analysts at Moffett Nathanson from a “sell” rating to a “neutral” rating in a report released on Tuesday, Marketbeat reports. The brokerage presently has a $80.00 price target on the stock. Moffett Nathanson’s price objective would suggest a potential upside of 7.85% from the company’s previous close.

Other analysts have also issued reports about the stock. Rosenblatt Securities lowered their price objective on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Citigroup increased their price target on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Macquarie decreased 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. Finally, Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.29.

Roku Trading Down 0.2 %

NASDAQ ROKU opened at $74.18 on Tuesday. The company’s 50-day moving average price is $64.93 and its 200-day moving average price is $61.65. The stock has a market cap of $10.73 billion, a PE ratio of -18.59 and a beta of 2.06. Roku has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Roku will post -1.44 earnings per share for the current year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on 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 sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The disclosure for this sale can be found here. Insiders have sold 47,156 shares of company stock valued at $3,481,100 in the last 90 days. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in the stock. Mcdonald Partners LLC grew its stake in Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after acquiring an additional 175 shares during the period. Benjamin Edwards Inc. lifted its holdings in Roku by 43.5% in the 1st 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. Beacon Capital Management LLC lifted its holdings in Roku by 17.7% in the 1st quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after purchasing an additional 233 shares in the last quarter. Arizona State Retirement System lifted its holdings in Roku by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after purchasing an additional 251 shares in the last quarter. Finally, Quarry LP lifted its holdings in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

About Roku

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.