Roku, Inc. (ROKU) Trading Up 33.7%

Roku, Inc. (NASDAQ:ROKU) was up 33.7% on Monday . The stock traded as high as $36.65 and last traded at $44.47. Approximately 39,841,862 shares were traded during mid-day trading, an increase of 448% from the average daily volume of 7,269,345 shares. The stock had previously closed at $33.25.

A number of research firms have recently commented on ROKU. Morgan Stanley began coverage on Roku in a research note on Monday, October 23rd. They issued an “equal weight” rating and a $22.00 target price for the company. Oppenheimer Holdings, Inc. initiated coverage on Roku in a research note on Monday, October 23rd. They issued a “market perform” rating and a $26.00 target price for the company. Royal Bank Of Canada initiated coverage on Roku in a research report on Monday, October 23rd. They set a “sector perform” rating and a $26.00 price objective for the company. CIBC initiated coverage on Roku in a research report on Monday, October 23rd. They set a “market perform” rating for the company. Finally, Needham & Company LLC initiated coverage on Roku in a research report on Monday, October 23rd. They set a “buy” rating and a $28.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Roku has a consensus rating of “Hold” and a consensus target price of $26.20.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.68) by $1.58. The firm had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $110.47 million. The business’s quarterly revenue was up 40.1% on a year-over-year basis. research analysts forecast that Roku, Inc. will post -2.32 EPS for the current fiscal year.

In other news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.00, for a total value of $96,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pier Capital LLC purchased a new position in Roku during the third quarter valued at $1,454,000. OxFORD Asset Management LLP purchased a new position in Roku during the third quarter valued at $12,899,000. Citadel Advisors LLC purchased a new position in Roku during the third quarter valued at $1,122,000. FNY Managed Accounts LLC purchased a new position in shares of Roku in the third quarter valued at about $599,000. Finally, SG Americas Securities LLC purchased a new position in shares of Roku in the third quarter valued at about $273,000. Institutional investors own 0.70% of the company’s stock.

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About Roku

Roku, Inc is a United States-based company engaged in creating streaming platform for delivering entertainment to the television. The Company’s products include Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories, such as cables, remote controls, power adapters and headphones. Its Roku streaming players and the Roku Streaming Stick are sold through retailers in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France.

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