Morgan Stanley Raises Roku, Inc. (ROKU) Price Target to $25.00
Several other brokerages have also recently weighed in on ROKU. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $28.00 price target (up from $26.00) on shares of Roku in a research note on Thursday. Needham & Company LLC started coverage on Roku in a research note on Monday, October 23rd. They issued a buy rating and a $28.00 target price on the stock. CIBC started coverage on Roku in a research note on Monday, October 23rd. They issued a market perform rating on the stock. William Blair started coverage on Roku in a research note on Monday, October 23rd. They issued an outperform rating on the stock. Finally, Oppenheimer Holdings, Inc. started coverage on Roku in a research note on Monday, October 23rd. They issued a market perform rating and a $26.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $26.20.
Shares of Roku (ROKU) traded up $4.06 during mid-day trading on Thursday, reaching $33.25. The company had a trading volume of 34,527,400 shares, compared to its average volume of 5,072,049. Roku has a 12 month low of $15.75 and a 12 month high of $36.65.
Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ 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 firm’s revenue for the quarter was up 40.1% compared to the same quarter last year. analysts predict that Roku will post -2.32 EPS for the current year.
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In other news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the 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 legal filing with the SEC, which is available through this link.
Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Roku during the third quarter valued at $273,000. Sei Investments Co. bought a new position in shares of Roku during the third quarter valued at $544,000. FNY Managed Accounts LLC bought a new position in shares of Roku during the third quarter valued at $599,000. Nationwide Fund Advisors bought a new position in shares of Roku during the third quarter valued at $1,009,000. Finally, Citadel Advisors LLC bought a new position in shares of Roku during the third quarter valued at $1,122,000. 0.70% of the stock is currently owned by hedge funds and other institutional investors.
Roku Company Profile
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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