Roku (ROKU) Upgraded to Buy at DA Davidson

Roku (NASDAQ:ROKU) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Monday, The Fly reports.

ROKU has been the subject of several other research reports. ValuEngine raised shares of Roku from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. KeyCorp reaffirmed an “overweight” rating and set a $81.00 price objective (up previously from $67.00) on shares of Roku in a research note on Tuesday, September 11th. Morgan Stanley boosted their price objective on shares of Roku from $45.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, November 5th. Zacks Investment Research cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, Royal Bank of Canada raised shares of Roku from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $70.00 in a research note on Friday, October 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Roku has a consensus rating of “Buy” and a consensus target price of $65.61.

Shares of NASDAQ:ROKU opened at $40.75 on Monday. The company has a market cap of $4.45 billion, a P/E ratio of -18.19 and a beta of 3.31. Roku has a 12 month low of $29.00 and a 12 month high of $77.57.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company had revenue of $173.40 million during the quarter, compared to analysts’ expectations of $170.73 million. Roku had a negative net margin of 1.33% and a negative return on equity of 4.46%. Roku’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, equities analysts forecast that Roku will post -0.13 EPS for the current year.

In other Roku news, SVP Stephen H. Kay sold 36,000 shares of Roku stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $60.89, for a total transaction of $2,192,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 421,549 shares of Roku stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $70.89, for a total transaction of $29,883,608.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 836,489 shares of company stock valued at $55,830,168. 0.55% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in Roku by 81.3% during the third quarter. FMR LLC now owns 5,415,683 shares of the company’s stock valued at $395,508,000 after purchasing an additional 2,428,836 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Roku by 72.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,747,875 shares of the company’s stock worth $346,737,000 after acquiring an additional 1,998,602 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Roku by 15.0% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 3,405,609 shares of the company’s stock worth $248,712,000 after acquiring an additional 445,094 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Roku by 2.6% in the 3rd quarter. BlackRock Inc. now owns 3,330,505 shares of the company’s stock worth $243,227,000 after acquiring an additional 85,375 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Roku by 378.4% in the 3rd quarter. Morgan Stanley now owns 2,129,881 shares of the company’s stock worth $155,544,000 after acquiring an additional 1,684,676 shares during the last quarter. Institutional investors and hedge funds own 46.35% of the company’s stock.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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