Roku, Inc. (ROKU) Shares Gap Up to $33.25

Roku, Inc. (NASDAQ:ROKU) gapped up prior to trading on Tuesday . The stock had previously closed at $31.62, but opened at $33.25. Roku shares last traded at $42.71, with a volume of 53078300 shares.

Several equities research analysts have recently weighed in on ROKU shares. Needham & Company LLC started coverage on Roku in a report on Monday, October 23rd. They issued a “buy” rating and a $28.00 price target on the stock. Morgan Stanley increased their price objective on Roku from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Citigroup Inc. initiated coverage on Roku in a research note on Monday, October 23rd. They issued a “neutral” rating and a $24.00 price objective on the stock. William Blair initiated coverage on Roku in a research note on Monday, October 23rd. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Roku in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.20.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.68) by $1.58. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $110.47 million. Roku’s quarterly revenue was up 40.1% compared to the same quarter last year. sell-side analysts predict that Roku, Inc. will post -2.32 earnings per share for the current fiscal year.

In other Roku news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the 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 legal filing with the SEC, which is accessible through the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. bought a new stake in Roku during the 3rd quarter valued at $216,000. SG Americas Securities LLC bought a new stake in Roku during the 3rd quarter valued at $273,000. Sei Investments Co. bought a new stake in Roku during the 3rd quarter valued at $544,000. FNY Managed Accounts LLC bought a new stake in Roku during the 3rd quarter valued at $599,000. Finally, Nationwide Fund Advisors bought a new stake in Roku during the 3rd quarter valued at $1,009,000. 0.70% of the stock is currently owned by institutional investors and hedge funds.

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Roku Company Profile

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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