Roku’s (ROKU) Outperform Rating Reiterated at Macquarie

Macquarie restated their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note published on Thursday, Benzinga reports. They currently have a $90.00 price target on the stock.

Several other equities research analysts have also recently commented on the company. Bank of America raised their target price on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Rosenblatt Securities raised their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Wedbush raised their price target on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Roku has a consensus rating of “Hold” and an average target price of $83.95.

Roku Stock Performance

Roku stock opened at $65.70 on Thursday. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of -54.75 and a beta of 2.07. Roku has a 52-week low of $48.33 and a 52-week high of $108.84. The firm has a 50 day moving average price of $73.22 and a two-hundred day moving average price of $63.75.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.33) earnings per share. As a group, equities research analysts predict that Roku will post -1.41 EPS for the current fiscal year.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Roku news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $15,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The trade was 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. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of large investors have recently added to or reduced their stakes in ROKU. 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 acquiring an additional 159,785 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Roku by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after purchasing an additional 24,926 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 shares during the period. Hedge funds and other institutional investors 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.