Roku (NASDAQ:ROKU) Coverage Initiated by Analysts at Bank of America

Bank of America initiated coverage on shares of Roku (NASDAQ:ROKU) in a report released on Thursday. The firm issued a buy rating and a $100.00 price objective on the stock.

ROKU has been the subject of a number of other reports. Rosenblatt Securities reiterated a “neutral” rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price target on shares of Roku in a report on Monday, March 24th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective on the stock in a report on Tuesday, March 4th. Finally, Benchmark increased their target price on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.55.

Roku Price Performance

Shares of ROKU opened at $72.49 on Thursday. The company has a market capitalization of $10.58 billion, a PE ratio of -81.45 and a beta of 2.12. Roku has a one year low of $48.33 and a one year high of $104.96. The company’s fifty day moving average price is $81.10 and its 200 day moving average price is $77.67.

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

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. The trade was a 1.55 % 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 hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its holdings in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of Roku during the fourth quarter valued at $30,000. Raelipskie Partnership bought a new position in Roku in the third quarter valued at about $32,000. Game Plan Financial Advisors LLC acquired a new stake in Roku in the fourth quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares during the last quarter. 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.