Roku (ROKU) Rating Lowered to Hold at Zacks Investment Research

Roku (NASDAQ:ROKU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Roku, Inc. is involved in creating streaming platform for delivering entertainment to the television. The Company’s products primarily includes Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories such as cables, remote controls, power adapters and headphones. It operates primarily in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France. Roku, Inc. is based in SARATOGA, United States. “

Several other analysts also recently issued reports on the stock. Vetr raised shares of Roku from a “buy” rating to a “strong-buy” rating and set a $47.93 price objective for the company in a report on Tuesday. BidaskClub downgraded shares of Roku from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Friday, January 5th. Morgan Stanley downgraded shares of Roku from an “equal weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a report on Thursday, January 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (up from $28.00) on shares of Roku in a report on Monday, November 27th. Four analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Roku currently has an average rating of “Hold” and a consensus target price of $35.28.

Roku (NASDAQ:ROKU) traded down $0.78 during midday trading on Friday, hitting $40.76. 2,728,400 shares of the company traded hands, compared to its average volume of 7,109,700. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of -0.09. The company has a market cap of $3,970.00 and a P/E ratio of -57.41. Roku has a fifty-two week low of $15.75 and a fifty-two week high of $58.80.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.68) by $1.58. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $110.47 million. The firm’s quarterly revenue 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 fiscal year.

A number of institutional investors have recently modified their holdings of the business. Kessler Investment Group LLC bought a new stake in Roku in the 4th quarter valued at $254,000. DAVENPORT & Co LLC bought a new stake in Roku in the 4th quarter valued at $324,000. Oppenheimer Asset Management Inc. bought a new stake in Roku in the 3rd quarter valued at $216,000. SG Americas Securities LLC bought a new stake in Roku in the 3rd quarter valued at $273,000. Finally, Creative Planning bought a new stake in Roku in the 4th quarter valued at $574,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

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About Roku

Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.

Analyst Recommendations for Roku (NASDAQ:ROKU)

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