Roku (NASDAQ:ROKU) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a strong-buy rating in a report published on Wednesday, Zacks.com reports. They currently have $122.00 price target on the stock.

According to Zacks, “Roku, Inc. is involved in creating streaming platform for delivering entertainment to the television. The Company’s products primarily includes Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories such as cables, remote controls, power adapters and headphones. It operates primarily in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France. Roku, Inc. is based in SARATOGA, United States. “

Other equities research analysts also recently issued reports about the company. Vertical Group raised Roku from a mixed rating to a positive rating in a report on Wednesday, August 7th. Cannonball Research set a $105.00 target price on Roku and gave the stock a buy rating in a report on Wednesday, August 7th. ValuEngine downgraded Roku from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. SunTrust Banks boosted their target price on Roku from $63.00 to $160.00 and gave the stock a hold rating in a report on Monday, September 9th. They noted that the move was a valuation call. Finally, Needham & Company LLC set a $150.00 target price on Roku and gave the stock a buy rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Roku currently has a consensus rating of Buy and an average price target of $118.19.

Shares of NASDAQ ROKU traded up $5.47 during mid-day trading on Wednesday, hitting $121.60. 22,968,550 shares of the stock traded hands, compared to its average volume of 22,993,108. Roku has a 52 week low of $26.30 and a 52 week high of $176.55. The company has a market cap of $13.50 billion, a price-to-earnings ratio of -1,520.00 and a beta of 1.68. The stock has a fifty day moving average price of $130.80 and a 200-day moving average price of $100.30.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.14. Roku had a negative return on equity of 6.77% and a negative net margin of 2.41%. The business had revenue of $250.10 million for the quarter, compared to the consensus estimate of $223.36 million. Roku’s revenue for the quarter was up 59.5% compared to the same quarter last year. Analysts forecast that Roku will post -0.5 EPS for the current fiscal year.

In other news, SVP Stephen H. Kay sold 12,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $109.03, for a total transaction of $1,308,360.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen H. Kay sold 22,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $149.54, for a total value of $3,289,880.00. Over the last ninety days, insiders have sold 180,419 shares of company stock worth $23,162,426. Corporate insiders own 22.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC bought a new position in shares of Roku during the second quarter valued at $43,000. Larson Financial Group LLC purchased a new stake in Roku during the third quarter valued at $48,000. Flagship Harbor Advisors LLC increased its position in Roku by 64.5% during the second quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock valued at $43,000 after acquiring an additional 187 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in Roku by 1,000.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock valued at $35,000 after acquiring an additional 500 shares during the last quarter. Finally, James Investment Research Inc. increased its position in Roku by 68.4% during the second quarter. James Investment Research Inc. now owns 825 shares of the company’s stock valued at $75,000 after acquiring an additional 335 shares during the last quarter. 52.54% of the stock is currently owned by hedge funds and other institutional investors.

Roku Company Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

See Also: Compound Interest

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