Roku (NASDAQ:ROKU) Upgraded by Robert W. Baird to "Outperform" Rating

Robert W. Baird upgraded shares of Roku (NASDAQ:ROKU - Free Report) from a neutral rating to an outperform rating in a research report sent to investors on Monday morning, Marketbeat reports. Robert W. Baird currently has $90.00 target price on the stock, up from their prior target price of $70.00.

Several other equities research analysts also recently commented on the stock. Bank of America upped their price objective on shares of Roku from $75.00 to $90.00 and gave the company a "buy" rating in a report on Monday, September 30th. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 29th. Wolfe Research upgraded Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price objective on the stock in a research note on Thursday, September 12th. Rosenblatt Securities lifted their target price on Roku from $61.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Guggenheim raised shares of Roku from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $84.67.

Roku Stock Up 7.5 %

NASDAQ ROKU traded up $5.16 during trading hours on Monday, reaching $74.03. 4,505,764 shares of the company were exchanged, compared to its average volume of 4,420,269. The stock has a market capitalization of $10.75 billion, a P/E ratio of -60.01 and a beta of 2.07. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The business's 50 day simple moving average is $74.36 and its 200-day simple moving average is $64.74.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku's revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.33) earnings per share. As a group, sell-side analysts anticipate that Roku will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,776 shares of company stock worth $5,267,305. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently bought and sold shares of the business. Sender Co & Partners Inc. purchased a new position in shares of Roku during the 3rd quarter valued at approximately $827,000. M&T Bank Corp grew its position in shares of Roku by 19.1% in the third quarter. M&T Bank Corp now owns 7,024 shares of the company's stock valued at $525,000 after purchasing an additional 1,126 shares during the period. Raelipskie Partnership purchased a new stake in shares of Roku during the third quarter worth about $32,000. Nomura Asset Management Co. Ltd. lifted its stake in Roku by 14.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company's stock valued at $2,719,000 after buying an additional 4,500 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in Roku by 9.8% in the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company's stock worth $791,000 after buying an additional 948 shares during the last quarter. 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.