Roku (NASDAQ:ROKU) Stock Rating Upgraded by Arete

Roku (NASDAQ:ROKU) was upgraded by stock analysts at Arete from a “neutral” rating to a “buy” rating in a research note issued on Monday, Marketbeat.com reports. The brokerage currently has a $132.00 price objective on the stock. Arete’s price objective would indicate a potential upside of 21.41% from the stock’s previous close.

A number of other equities research analysts have also recently commented on ROKU. Rosenblatt Securities raised their price target on Roku from $101.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Benchmark reiterated a “buy” rating on shares of Roku in a research report on Monday, October 27th. Morgan Stanley set a $135.00 price target on Roku and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price target on shares of Roku in a research note on Wednesday, October 1st. Finally, KeyCorp reiterated an “overweight” rating and set a $116.00 price objective on shares of Roku in a research report on Tuesday, October 28th. Twenty-two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average target price of $118.12.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $108.72 on Monday. The company has a market capitalization of $16.06 billion, a P/E ratio of -543.57 and a beta of 1.95. Roku has a 1-year low of $52.43 and a 1-year high of $116.66. The firm’s 50 day simple moving average is $103.03 and its two-hundred day simple moving average is $96.32.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm earned ($0.06) EPS. The company’s revenue was up 14.0% on a year-over-year basis. On average, sell-side analysts anticipate that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Anthony J. Wood sold 50,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $103.86, for a total value of $5,193,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 118,088 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the transaction, the insider owned 200 shares of the company’s stock, valued at $23,000. This trade represents a 99.83% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 340,553 shares of company stock worth $36,388,689. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently added to or reduced their stakes in the stock. Westfuller Advisors LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new stake in Roku during the 3rd quarter valued at $33,000. Rakuten Securities Inc. lifted its position in Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after buying an additional 158 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Roku by 327.1% during the second quarter. JFS Wealth Advisors LLC now owns 457 shares of the company’s stock worth $40,000 after buying an additional 350 shares during the period. Finally, Bogart Wealth LLC boosted its stake in Roku by 234.1% during the second quarter. Bogart Wealth LLC now owns 461 shares of the company’s stock worth $41,000 after buying an additional 323 shares during the period. 86.30% of the stock is owned by institutional investors.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.