Vetr Downgrades Roku (ROKU) to Buy
Roku (NASDAQ:ROKU) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $50.90 price target on the stock. Vetr‘s target price points to a potential upside of 8.41% from the stock’s current price.
ROKU has been the subject of a number of other research reports. UBS cut Roku from a “market perform” rating to an “underperform” rating in a research report on Tuesday, November 14th. Needham & Company LLC assumed coverage on Roku in a research report on Monday, October 23rd. They set a “buy” rating and a $28.00 price objective for the company. Morgan Stanley boosted their price target on Roku from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. Oppenheimer cut Roku to an “underperform” rating and set a $28.00 price target for the company. in a research report on Sunday, November 26th. Finally, Citigroup assumed coverage on Roku in a research report on Monday, October 23rd. They issued a “neutral” rating and a $24.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Roku presently has a consensus rating of “Hold” and an average target price of $34.32.
Shares of Roku (NASDAQ ROKU) opened at $46.95 on Monday. The company has a debt-to-equity ratio of -0.09, a quick ratio of 1.11 and a current ratio of 1.36. Roku has a 12-month low of $15.75 and a 12-month high of $51.80.
In related news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this link.
Several hedge funds have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP bought a new stake in shares of Roku in the 3rd quarter valued at approximately $12,899,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $11,920,000. Dragoneer Investment Group LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $9,554,000. Jane Street Group LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $3,784,000. Finally, Davidson Kempner Capital Management LP bought a new stake in shares of Roku in the 3rd quarter valued at approximately $2,650,000. Institutional investors own 23.28% of the company’s stock.
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Roku Company Profile
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.
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