Pivotal Research Upgrades Roku (NASDAQ:ROKU) to Hold

Roku (NASDAQ:ROKUGet Rating) was upgraded by Pivotal Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.

A number of other analysts have also recently issued reports on the stock. DA Davidson reduced their target price on shares of Roku from $200.00 to $170.00 in a research note on Friday, April 29th. Wells Fargo & Company reduced their price objective on shares of Roku from $305.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, February 18th. KeyCorp reduced their price objective on shares of Roku from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, April 11th. Morgan Stanley reduced their price objective on shares of Roku from $115.00 to $105.00 in a research note on Friday, April 29th. Finally, Oppenheimer reduced their price objective on shares of Roku from $185.00 to $155.00 in a research note on Friday, April 29th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Roku has an average rating of “Buy” and an average price target of $221.92.

Shares of ROKU opened at $88.54 on Friday. The company’s 50 day moving average price is $106.84 and its 200 day moving average price is $157.88. Roku has a 52 week low of $75.03 and a 52 week high of $490.76. The company has a market capitalization of $12.04 billion, a PE ratio of 90.35 and a beta of 1.95.

Roku (NASDAQ:ROKUGet Rating) last posted its earnings results on Thursday, April 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The business had revenue of $733.70 million during the quarter, compared to analyst estimates of $718.56 million. Roku had a net margin of 4.78% and a return on equity of 5.17%. Roku’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, equities analysts predict that Roku will post -1.82 earnings per share for the current year.

In related news, CEO Anthony J. Wood sold 80,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $138.28, for a total transaction of $11,062,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott A. Rosenberg sold 1,869 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $129.33, for a total transaction of $241,717.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,946 shares of company stock valued at $11,831,274. 15.32% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Means Investment CO. Inc. grew its stake in shares of Roku by 3.9% during the 3rd quarter. Means Investment CO. Inc. now owns 1,345 shares of the company’s stock worth $421,000 after acquiring an additional 50 shares in the last quarter. Credit Agricole S A grew its stake in shares of Roku by 60.0% in the fourth quarter. Credit Agricole S A now owns 168 shares of the company’s stock valued at $38,000 after buying an additional 63 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Roku by 29.1% in the fourth quarter. Clearstead Advisors LLC now owns 288 shares of the company’s stock valued at $66,000 after buying an additional 65 shares in the last quarter. Headinvest LLC grew its stake in shares of Roku by 11.8% in the third quarter. Headinvest LLC now owns 673 shares of the company’s stock valued at $211,000 after buying an additional 71 shares in the last quarter. Finally, Maverick Capital Ltd. grew its stake in shares of Roku by 147.1% in the third quarter. Maverick Capital Ltd. now owns 126 shares of the company’s stock valued at $39,000 after buying an additional 75 shares in the last quarter. 68.77% of the stock is owned by institutional investors.

About Roku (Get Rating)

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live TV, news sports, shows, and others. As of December 31, 2021, the company had 60.1 million active accounts.

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