Roku (NASDAQ:ROKU) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Roku (NASDAQ:ROKU) from an underweight rating to an equal weight rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $72.00 target price on the stock, up from their prior target price of $50.00.

Other equities research analysts also recently issued research reports about the company. Bank of America dropped their target price on Roku from $85.00 to $75.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Benchmark restated a buy rating and issued a $105.00 target price on shares of Roku in a research note on Friday, August 2nd. Rosenblatt Securities reduced their target price on Roku from $89.00 to $61.00 and set a neutral rating for the company in a report on Friday, August 2nd. Guggenheim raised shares of Roku from a neutral rating to a buy rating and set a $75.00 price target on the stock in a report on Friday, August 23rd. Finally, Wedbush reaffirmed an outperform rating and set a $75.00 target price on shares of Roku in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Roku has a consensus rating of Hold and an average target price of $77.47.

Roku Price Performance

Shares of ROKU opened at $64.37 on Thursday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The business has a 50-day moving average of $61.09 and a 200 day moving average of $60.50.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.76) earnings per share. On average, research analysts expect that Roku will post -1.45 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the sale, the director now owns 3,259 shares of the company’s stock, valued at $188,630.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now directly owns 3,259 shares in the company, valued at $188,630.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,265 shares of company stock valued at $1,067,351. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently modified their holdings of ROKU. Granite Bay Wealth Management LLC purchased a new position in Roku in the 2nd quarter worth approximately $1,142,000. Quarry LP increased its stake in shares of Roku by 127.9% in the second quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after buying an additional 944 shares during the period. Algert Global LLC boosted its position in Roku by 144.4% during the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after buying an additional 32,603 shares during the period. Empirical Capital Management LLC grew its holdings in Roku by 10.0% in the 2nd quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after acquiring an additional 16,031 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Roku in the second quarter valued at about $3,437,000. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.