Roku, Inc. (NASDAQ:ROKU) rose 9% on Thursday . The company traded as high as $41.09 and last traded at $40.60. Approximately 11,770,852 shares changed hands during trading, an increase of 13% from the average daily volume of 10,431,664 shares. The stock had previously closed at $37.26.

ROKU has been the subject of a number of recent research reports. Vetr raised shares of Roku from a “buy” rating to a “strong-buy” rating and set a $43.26 price target for the company in a research note on Tuesday. Citigroup Inc. initiated coverage on shares of Roku in a research note on Monday, October 23rd. They set a “neutral” rating and a $24.00 price target for the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $28.00 price target (up from $26.00) on shares of Roku in a research note on Thursday, November 9th. Morgan Stanley initiated coverage on shares of Roku in a research note on Monday, October 23rd. They set an “equal weight” rating and a $22.00 price target for the company. Finally, Oppenheimer Holdings, Inc. reissued an “underperform” rating on shares of Roku in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Roku currently has an average rating of “Hold” and a consensus target price of $29.04.

The company has a debt-to-equity ratio of -0.09, a quick ratio of 1.11 and a current ratio of 1.36.

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

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

A number of large investors have recently modified their holdings of the business. OxFORD Asset Management LLP bought a new stake in Roku in the third quarter valued at approximately $12,899,000. Gilder Gagnon Howe & Co. LLC bought a new stake in Roku in the third quarter valued at approximately $11,920,000. Dragoneer Investment Group LLC bought a new stake in Roku in the third quarter valued at approximately $9,554,000. Jane Street Group LLC bought a new stake in Roku in the third quarter valued at approximately $3,784,000. Finally, Davidson Kempner Capital Management LP bought a new stake in Roku in the third quarter valued at approximately $2,650,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

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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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