Redburn Atlantic Upgrades Roku (NASDAQ:ROKU) to “Buy”

Redburn Atlantic upgraded shares of Roku (NASDAQ:ROKU) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat.com reports. The brokerage currently has $100.00 target price on the stock.

Several other research analysts also recently weighed in on ROKU. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Roku in a research note on Monday, March 24th. UBS Group raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Compass Point started coverage on shares of Roku in a research report on Sunday, March 23rd. They set a “buy” rating for the company. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price on the stock in a report on Tuesday, March 4th. Finally, JMP Securities increased their price target on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.70.

Roku Trading Up 3.3 %

Shares of ROKU opened at $57.13 on Monday. The company’s 50 day simple moving average is $79.19 and its 200-day simple moving average is $77.25. The firm has a market cap of $8.34 billion, a PE ratio of -64.19 and a beta of 2.17. Roku has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, equities research analysts forecast that Roku will post -0.3 EPS for the current fiscal year.

Insider Activity

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at $468,225. This trade represents a 42.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,905 shares of company stock valued at $8,632,306. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several large investors have recently bought and sold shares of ROKU. Weiss Asset Management LP purchased a new position in shares of Roku in the third quarter valued at $616,000. National Bank of Canada FI boosted its position in Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Roku by 274.0% during the third quarter. XTX Topco Ltd now owns 14,834 shares of the company’s stock valued at $1,108,000 after acquiring an additional 10,868 shares in the last quarter. MML Investors Services LLC increased its position in shares of Roku by 9.8% during the third quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock worth $791,000 after acquiring an additional 948 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Roku by 14.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock worth $2,719,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors and hedge funds 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.