Roku, Inc. (ROKU) Stock Rating Lowered by UBS AG
Roku, Inc. (NASDAQ:ROKU) was downgraded by analysts at UBS AG from a “market perform” rating to an “underperform” rating in a report issued on Tuesday.
Other analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. reiterated an “underperform” rating on shares of Roku in a research report on Tuesday. CIBC began coverage on Roku in a research report on Monday, October 23rd. They set a “market perform” rating for the company. Royal Bank Of Canada began coverage on Roku in a research report on Monday, October 23rd. They set a “sector perform” rating and a $26.00 target price for the company. Morgan Stanley started coverage on Roku in a research report on Monday, October 23rd. They set an “equal weight” rating and a $22.00 target price for the company. Finally, William Blair started coverage on Roku in a research report on Monday, October 23rd. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $26.20.
Roku (NASDAQ:ROKU) traded up $9.46 during trading hours on Tuesday, hitting $42.71. The stock had a trading volume of 53,078,300 shares, compared to its average volume of 8,700,260. Roku has a 1 year low of $15.75 and a 1 year high of $47.49.
Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, November 8th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.68) by $1.58. The company had revenue of $124.80 million for the quarter, compared to the consensus estimate of $110.47 million. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. sell-side analysts anticipate that Roku will post -2.32 earnings per share for the current year.
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In related news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.00, for a total transaction of $96,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in Roku in the 3rd quarter worth about $216,000. Pier Capital LLC acquired a new position in Roku in the 3rd quarter worth about $1,454,000. OxFORD Asset Management LLP acquired a new position in Roku in the 3rd quarter worth about $12,899,000. Citadel Advisors LLC acquired a new position in Roku in the 3rd quarter worth about $1,122,000. Finally, FNY Managed Accounts LLC acquired a new position in Roku in the 3rd quarter worth about $599,000. Institutional investors and hedge funds own 0.70% of the company’s stock.
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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