In a report released today, Daniel Kurnos from Benchmark Co. initiated coverage with a Buy rating on Roku (ROKU – Research Report) and a price target of $115.00. The company’s shares closed yesterday at $89.94.
Kurnos covers the Communication Services sector, focusing on stocks such as Paramount Global Class B, Magnite, and Zillow Group Class A. According to TipRanks, Kurnos has an average return of 5.3% and a 48.02% success rate on recommended stocks.
In addition to Benchmark Co., Roku also received a Buy from Wedbush’s Alicia Reese in a report issued on February 9. However, today, KeyBanc maintained a Hold rating on Roku (NASDAQ: ROKU).
See today’s best-performing stocks on TipRanks >>
Based on Roku’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $847.19 million and a GAAP net loss of $107.6 million. In comparison, last year the company earned a revenue of $764.41 million and had a GAAP net loss of $112.32 million
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ROKU in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Roku (ROKU) Company Description:
Founded in 2002 and based in California, Roku, Inc. is a television streaming platform. It operates through two business segments: Player and Platform. The Player segment consists of net sales of streaming media players and accessories through retailers and distributors, as well as directly to customers through the company’s website. 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.
Read More on ROKU:
- ROKU Upcoming Earnings Report: What to Expect?
- Universal Electronics says court backs Roku infringing products import ban
- IBM upgraded, Hertz downgraded: Wall Street’s top analyst calls
- Roku upgraded to Neutral from Sell at Seaport Research
- Seaport Research Internet analysts hold analyst/industry conference call
