Citizens Jmp Upgrades Roku (NASDAQ:ROKU) to “Strong-Buy”

Roku (NASDAQ:ROKU) was upgraded by Citizens Jmp to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. UBS Group assumed coverage on Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price on the stock. Loop Capital boosted their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Moffett Nathanson lowered shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a report on Friday, January 10th. Jefferies Financial Group decreased their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Friday, November 1st. Finally, JMP Securities assumed coverage on Roku in a research note on Tuesday. They set a “mkt outperform” rating and a $95.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Performance

Shares of ROKU opened at $79.60 on Tuesday. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of -66.33 and a beta of 2.05. Roku has a 52 week low of $48.33 and a 52 week high of $99.80. The business’s fifty day moving average price is $76.87 and its two-hundred day moving average price is $71.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.33) EPS. As a group, research analysts forecast that Roku will post -1.09 EPS for the current year.

Insider Transactions at Roku

In other news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now owns 3,790 shares in the company, valued at $269,620.60. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,095 shares of company stock worth $5,726,218 in the last three months. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the period. Raelipskie Partnership acquired a new stake in Roku during the third quarter worth about $32,000. EverSource Wealth Advisors LLC grew 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 buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku during the 3rd quarter worth approximately $43,000. Finally, GS Investments Inc. lifted its stake in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.