Roku (NASDAQ:ROKU) Downgraded by BidaskClub

BidaskClub lowered shares of Roku (NASDAQ:ROKU) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, BidAskClub reports.

Several other research firms also recently issued reports on ROKU. Rosenblatt Securities reaffirmed a neutral rating on shares of Roku in a research note on Thursday, May 9th. Vertical Group raised shares of Roku from a negative rating to a mixed rating in a research note on Wednesday, May 1st. Guggenheim raised shares of Roku from a neutral rating to a buy rating and lifted their price target for the stock from $75.00 to $119.00 in a research note on Wednesday, June 5th. KeyCorp lifted their price target on shares of Roku from $76.00 to $84.00 and gave the stock an overweight rating in a research note on Thursday, May 9th. Finally, Citigroup downgraded shares of Roku from a neutral rating to a sell rating and lifted their price target for the stock from $53.00 to $60.60 in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Roku presently has a consensus rating of Hold and an average target price of $82.87.

Roku stock traded down $0.31 during midday trading on Thursday, hitting $100.53. 4,439,457 shares of the stock were exchanged, compared to its average volume of 8,760,258. Roku has a 1 year low of $26.30 and a 1 year high of $113.44. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of -1,256.63 and a beta of 2.04. The company has a 50 day simple moving average of $102.08.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.15. Roku had a negative net margin of 1.47% and a negative return on equity of 4.60%. The firm had revenue of $206.70 million for the quarter, compared to the consensus estimate of $189.80 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 51.3% on a year-over-year basis. Analysts predict that Roku will post -0.57 EPS for the current fiscal year.

In other news, Director Jeff Hastings sold 2,222 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $92.00, for a total value of $204,424.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 12,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $109.03, for a total transaction of $1,308,360.00. The disclosure for this sale can be found here. Insiders sold a total of 676,733 shares of company stock valued at $67,106,092 in the last three months. Insiders own 22.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. PNC Financial Services Group Inc. boosted its holdings in shares of Roku by 100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 400 shares of the company’s stock valued at $25,000 after buying an additional 200 shares during the period. CWM LLC acquired a new position in shares of Roku in the 1st quarter valued at about $32,000. James Investment Research Inc. acquired a new position in shares of Roku in the 1st quarter valued at about $32,000. Wealthcare Advisory Partners LLC boosted its holdings in shares of Roku by 1,000.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock valued at $35,000 after buying an additional 500 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Roku in the 1st quarter valued at about $42,000. 50.19% of the stock is owned by institutional investors.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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