Roku (NASDAQ:ROKU) Upgraded to “Buy” at Loop Capital

Roku (NASDAQ:ROKU) was upgraded by stock analysts at Loop Capital from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $100.00 price target on the stock, up from their previous price target of $80.00. Loop Capital’s price target indicates a potential upside of 21.70% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. Compass Point began coverage on Roku in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $88.50 price target on shares of Roku in a research report on Monday, May 12th. FBN Securities assumed coverage on Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 price objective on the stock. Finally, Evercore ISI lowered their target price on shares of Roku from $105.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.24.

Roku Trading Up 10.4%

ROKU opened at $82.17 on Tuesday. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of -92.33 and a beta of 2.09. The company has a fifty day simple moving average of $67.99 and a 200 day simple moving average of $74.97.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. On average, analysts forecast that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,843 shares of the company’s stock, valued at $5,163,225. This represents a 1.43% 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 this link. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. The trade was a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,737 shares of company stock valued at $4,987,114 over the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently modified their holdings of the stock. Anderson Financial Strategies LLC purchased a new position in Roku in the first quarter valued at about $68,000. Strs Ohio acquired a new position in shares of Roku during the 1st quarter worth $3,984,000. Acadian Asset Management LLC raised its holdings in shares of Roku by 456.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock valued at $134,222,000 after purchasing an additional 1,563,449 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Roku in the 1st quarter valued at $229,000. Finally, Plato Investment Management Ltd boosted its holdings in Roku by 217.4% in the first quarter. Plato Investment Management Ltd now owns 9,663 shares of the company’s stock worth $688,000 after purchasing an additional 6,619 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.