Roku (NASDAQ:ROKU) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of Roku (NASDAQ:ROKU) from a neutral rating to a buy rating in a research note published on Wednesday, June 5th, 24/7 WallStreet reports. Guggenheim currently has $119.00 price target on the stock, up from their prior price target of $75.00.

ROKU has been the subject of a number of other reports. Rosenblatt Securities restated a neutral rating on shares of Roku in a research note on Thursday, May 9th. Needham & Company LLC reiterated a buy rating and set a $120.00 price objective (up from $85.00) on shares of Roku in a research note on Wednesday, May 29th. Wedbush reiterated an outperform rating and set a $65.00 price objective on shares of Roku in a research note on Friday, February 15th. Morgan Stanley boosted their price objective on Roku from $46.00 to $70.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Finally, KeyCorp boosted their price objective on Roku from $76.00 to $84.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $82.87.

NASDAQ ROKU traded down $2.65 during trading hours on Wednesday, hitting $90.58. The company’s stock had a trading volume of 6,978,513 shares, compared to its average volume of 13,145,177. Roku has a 12 month low of $26.30 and a 12 month high of $108.32. The stock has a 50 day moving average price of $94.36. The company has a market capitalization of $10.59 billion, a P/E ratio of -1,132.25 and a beta of 2.43.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.15. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $189.80 million. Roku had a negative return on equity of 4.60% and a negative net margin of 1.47%. Roku’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period last year, the company earned ($0.07) EPS. Equities analysts forecast that Roku will post -0.57 EPS for the current fiscal year.

In other Roku news, Director Jeff Hastings sold 2,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $70.00, for a total value of $140,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 35,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $68.70, for a total value of $2,404,500.00. The disclosure for this sale can be found here. Insiders sold a total of 701,733 shares of company stock valued at $66,983,222 over the last quarter. Company insiders own 22.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its holdings in Roku by 19.8% in the first quarter. First Trust Advisors LP now owns 92,199 shares of the company’s stock valued at $5,948,000 after purchasing an additional 15,212 shares during the period. FMR LLC grew its holdings in Roku by 12.1% in the first quarter. FMR LLC now owns 7,108,246 shares of the company’s stock valued at $458,553,000 after purchasing an additional 767,418 shares during the period. Weiss Asset Management LP acquired a new stake in Roku in the first quarter valued at approximately $246,000. Rehmann Capital Advisory Group acquired a new stake in Roku in the first quarter valued at approximately $285,000. Finally, Meridian Wealth Management LLC acquired a new stake in Roku in the first quarter valued at approximately $573,000. Institutional investors own 50.49% of the company’s stock.

About Roku

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.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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