Roku (NASDAQ:ROKU) Stock Price Up 1.2% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares shot up 1.2% during mid-day trading on Tuesday . The company traded as high as $99.20 and last traded at $96.30. 1,684,611 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 3,678,999 shares. The stock had previously closed at $95.18.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ROKU shares. Oppenheimer boosted their price objective on Roku from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Jefferies Financial Group upgraded shares of Roku from a “hold” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $135.00 in a research note on Thursday, December 11th. Citizens Jmp reissued a “market outperform” rating and issued a $145.00 price target on shares of Roku in a report on Tuesday, December 2nd. Moffett Nathanson restated a “neutral” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.40.

Roku Price Performance

The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 168.95 and a beta of 1.98. The firm has a 50 day simple moving average of $97.65 and a 200-day simple moving average of $99.74.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 12th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.28 by $0.25. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Christopher T. Handman sold 2,999 shares of Roku stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $95.57, for a total value of $286,614.43. Following the completion of the transaction, the senior vice president owned 2,999 shares in the company, valued at approximately $286,614.43. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 1,715 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $100.00, for a total value of $171,500.00. Following the completion of the transaction, the insider directly owned 11,131 shares in the company, valued at $1,113,100. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 198,124 shares of company stock valued at $20,020,428. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently bought and sold shares of the business. CWM LLC lifted its stake in Roku by 345.4% in the third quarter. CWM LLC now owns 84,010 shares of the company’s stock valued at $8,412,000 after buying an additional 65,150 shares during the period. Accurate Wealth Management LLC acquired a new position in shares of Roku during the 3rd quarter worth about $1,115,000. AGF Management Ltd. bought a new stake in shares of Roku in the 3rd quarter valued at about $15,023,000. Convergence Investment Partners LLC bought a new stake in shares of Roku in the 3rd quarter valued at about $2,492,000. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Roku by 699.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 23,248 shares of the company’s stock worth $2,328,000 after acquiring an additional 20,339 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.