Roku (NASDAQ:ROKU) Now Covered by Analysts at FBN Securities

Analysts at FBN Securities started coverage on shares of Roku (NASDAQ:ROKU) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $93.00 price target on the stock. FBN Securities’ price objective suggests a potential upside of 22.29% from the company’s current price.

Several other analysts have also recently commented on ROKU. Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $129.00 in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price objective on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. JMP Securities upped their target price on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Finally, Compass Point assumed coverage on shares of Roku in a report on Sunday. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.55.

Roku Price Performance

NASDAQ:ROKU opened at $76.05 on Friday. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of -85.45 and a beta of 2.12. The firm’s fifty day moving average price is $81.16 and its 200 day moving average price is $77.54. Roku has a 1-year low of $48.33 and a 1-year high of $104.96.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,908 shares of company stock worth $8,633,436. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently made changes to their positions in ROKU. Charles Schwab Investment Management Inc. boosted its holdings in Roku by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after acquiring an additional 30,038 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Roku by 73.0% in the 3rd quarter. Citigroup Inc. now owns 101,529 shares of the company’s stock worth $7,580,000 after purchasing an additional 42,837 shares during the period. Cerity Partners LLC lifted its stake in shares of Roku by 11.1% in the 3rd quarter. Cerity Partners LLC now owns 26,534 shares of the company’s stock valued at $1,981,000 after purchasing an additional 2,644 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Roku during the 3rd quarter worth about $95,000. Finally, Summit Partners Public Asset Management LLC acquired a new stake in Roku during the 3rd quarter worth approximately $896,000. Institutional investors and hedge funds 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.