Wedbush downgraded shares of Roku (NASDAQ:ROKU) from an outperform rating to a neutral rating in a research report sent to investors on Friday, February 22nd, Marketbeat Ratings reports. They currently have $55.00 price objective on the stock, down from their prior price objective of $65.00.
ROKU has been the topic of several other reports. Zacks Investment Research upgraded Roku from a hold rating to a buy rating and set a $47.00 target price on the stock in a research note on Wednesday, January 9th. Morgan Stanley lifted their price target on Roku from $45.00 to $50.00 and gave the stock an equal weight rating in a research report on Monday, November 5th. Loop Capital lowered their price target on Roku to $40.00 and set a hold rating for the company in a research report on Tuesday, January 15th. KeyCorp lowered their price target on Roku from $81.00 to $59.00 and set an overweight rating for the company in a research report on Wednesday, December 19th. Finally, ValuEngine cut Roku from a buy rating to a hold rating in a report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $65.07.
Shares of NASDAQ:ROKU traded up $0.05 on Friday, reaching $64.97. The company had a trading volume of 6,333,941 shares, compared to its average volume of 14,361,215. Roku has a 52-week low of $26.30 and a 52-week high of $77.57. The company has a market capitalization of $7.00 billion, a PE ratio of -812.13 and a beta of 3.90.
Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Roku had a negative return on equity of 4.06% and a negative net margin of 1.19%. The business had revenue of $275.74 million for the quarter, compared to the consensus estimate of $262.57 million. Sell-side analysts forecast that Roku will post -0.72 EPS for the current fiscal year.
In other news, CFO Steve Louden sold 170,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $53.24, for a total value of $9,050,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott A. Rosenberg sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $29.82, for a total value of $745,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 445,639 shares of company stock valued at $23,706,555. 0.55% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Roku by 17.1% in the fourth quarter. FMR LLC now owns 6,340,828 shares of the company’s stock worth $194,283,000 after acquiring an additional 925,145 shares during the period. Vanguard Group Inc lifted its stake in Roku by 72.7% during the third quarter. Vanguard Group Inc now owns 4,747,875 shares of the company’s stock worth $346,737,000 after purchasing an additional 1,998,602 shares in the last quarter. Vanguard Group Inc. lifted its stake in Roku by 72.7% during the third quarter. Vanguard Group Inc. now owns 4,747,875 shares of the company’s stock worth $346,737,000 after purchasing an additional 1,998,602 shares in the last quarter. BlackRock Inc. lifted its stake in Roku by 5.9% during the fourth quarter. BlackRock Inc. now owns 3,527,905 shares of the company’s stock worth $108,096,000 after purchasing an additional 197,400 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in Roku by 15.0% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 3,405,609 shares of the company’s stock worth $248,712,000 after purchasing an additional 445,094 shares in the last quarter. Institutional investors own 42.53% of the company’s stock.
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
Further Reading: Are all No-Load Funds Equal?
Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.