Macquarie Reiterates Outperform Rating for Roku (NASDAQ:ROKU)

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

A number of other equities analysts have also recently weighed in on the company. Citigroup increased their price target on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Wolfe Research upgraded 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. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.71.

Roku Trading Up 1.7 %

ROKU stock traded up $1.08 during trading on Thursday, reaching $65.16. 2,906,171 shares of the stock were exchanged, compared to its average volume of 4,416,850. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of -53.40 and a beta of 2.08. The business has a 50 day moving average price of $73.29 and a 200-day moving average price of $63.66. Roku has a 1 year low of $48.33 and a 1 year high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.33) EPS. On average, research analysts anticipate that Roku will post -1.41 EPS for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 approximately $15,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the 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 transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,566 shares of company stock valued at $5,254,000. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku in the 3rd quarter valued at about $43,000. EverSource Wealth Advisors LLC grew its position in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares during the period. Cedar Wealth Management LLC purchased a new stake in Roku in the 2nd quarter valued at $48,000. Finally, Natixis acquired a new stake in Roku during the 1st quarter worth $53,000. Hedge funds and other 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.