Roku (NASDAQ:ROKU) Upgraded by Robert W. Baird to Outperform Rating

Roku (NASDAQ:ROKU) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm presently has a $90.00 price target on the stock, up from their previous price target of $70.00. Robert W. Baird’s price objective would indicate a potential upside of 30.68% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Rosenblatt Securities raised their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Thursday, October 31st. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Thursday, September 12th. Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group dropped their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.67.

Roku Stock Performance

ROKU stock opened at $68.87 on Monday. Roku has a one year low of $48.33 and a one year high of $108.84. The stock has a market capitalization of $10.00 billion, a PE ratio of -57.39 and a beta of 2.07. The company has a fifty day moving average of $74.36 and a 200-day moving average of $64.70.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business earned ($2.33) EPS. The business’s revenue was up 16.5% on a year-over-year basis. Equities analysts forecast that Roku will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. The trade was a 83.28 % 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 the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. The trade was a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,776 shares of company stock worth $5,267,305. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently bought and sold shares of the stock. Holocene Advisors LP purchased a new stake in Roku during the third quarter worth approximately $129,015,000. Westfield Capital Management Co. LP grew its stake in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares during the period. Point72 Asset Management L.P. grew its stake in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the period. JAT Capital Mgmt LP boosted its stake in shares of Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares during the period. Finally, FMR LLC boosted its stake in shares of Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.