Roku (NASDAQ:ROKU) Earns Outperform Rating from Macquarie

by · The Cerbat Gem

Roku (NASDAQ:ROKU – Get Free Report)‘s stock had its “outperform” rating reiterated by investment analysts at Macquarie in a research note issued to investors on Thursday, Benzinga reports. They currently have a $90.00 price target on the stock. Macquarie’s price objective indicates a potential upside of 45.96% from the company’s previous close.

Several other research analysts have also recently issued reports on ROKU. Morgan Stanley upped their price target on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wedbush lifted their price target on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Thursday. Finally, Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus target price of $83.80.

Get Our Latest Stock Analysis on ROKU

Roku Price Performance

Shares of NASDAQ ROKU traded down $15.85 during midday trading on Thursday, reaching $61.66. 7,134,500 shares of the company traded hands, compared to its average volume of 4,349,101. The stock has a 50-day moving average price of $73.24 and a 200 day moving average price of $63.66. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -15.99 and a beta of 2.08. Roku has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm posted ($2.33) earnings per share. As a group, analysts expect that Roku will post -1.43 EPS for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Roku news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $15,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,566 shares of company stock valued at $5,254,000. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 123.4% in 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. Future Financial Wealth Managment LLC acquired a new stake in Roku during the 3rd quarter valued at $43,000. Geneos Wealth Management Inc. raised its position in 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 purchasing an additional 610 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in Roku in the second quarter worth $48,000. Finally, Natixis bought a new stake in shares of Roku during the first quarter worth $53,000. 86.30% of the stock is owned by institutional investors.

Roku Company Profile

(Get Free Report)

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.

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