Moffett Nathanson Upgrades Roku (NASDAQ:ROKU) to “Neutral”

Roku (NASDAQ:ROKU) was upgraded by equities researchers at Moffett Nathanson from a “sell” rating to a “neutral” rating in a report released on Tuesday, Marketbeat.com reports. The firm currently has a $80.00 price objective on the stock. Moffett Nathanson’s price target would indicate a potential upside of 7.85% from the stock’s current price.

Several other research analysts have also commented on the company. Robert W. Baird lifted their price target on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday, September 13th. Finally, Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.29.

Roku Stock Down 0.2 %

NASDAQ ROKU opened at $74.18 on Tuesday. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The business’s fifty day simple moving average is $64.93 and its 200-day simple moving average is $61.65. The firm has a market cap of $10.73 billion, a PE ratio of -18.59 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the previous year, the firm earned ($0.76) EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts expect that Roku will post -1.44 EPS for the current year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,156 shares of company stock valued at $3,481,100. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in Roku during the second quarter worth approximately $48,000. Hedge funds and other institutional investors 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.