Roku Inc (NASDAQ:ROKU) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 9,946,474 shares, a growth of 39.2% from the February 15th total of 7,147,395 shares. Based on an average trading volume of 8,376,351 shares, the short-interest ratio is currently 1.2 days.
Several equities analysts have recently issued reports on ROKU shares. Oppenheimer reaffirmed an “underperform” rating on shares of Roku in a research note on Tuesday, November 14th. They noted that the move was a valuation call. UBS Group downgraded shares of Roku from a “market perform” rating to an “underperform” rating in a research note on Tuesday, November 14th. Vetr raised shares of Roku from a “buy” rating to a “strong-buy” rating and set a $43.26 price target for the company in a research note on Tuesday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target (up previously from $28.00) on shares of Roku in a research note on Monday, November 27th. Finally, Morgan Stanley downgraded shares of Roku from an “equal weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research note on Thursday, January 4th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Roku presently has a consensus rating of “Hold” and an average price target of $40.36.
A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. The Manufacturers Life Insurance Company bought a new position in Roku during the fourth quarter worth $130,000. MYDA Advisors LLC bought a new position in Roku during the fourth quarter worth $207,000. Oppenheimer Asset Management Inc. bought a new position in Roku during the third quarter worth $216,000. Raymond James Financial Services Advisors Inc. bought a new position in Roku during the fourth quarter worth $247,000. Finally, Kessler Investment Group LLC bought a new position in Roku during the fourth quarter worth $254,000. 10.47% of the stock is owned by institutional investors and hedge funds.
Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, February 21st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.17. The firm had revenue of $188.30 million for the quarter, compared to the consensus estimate of $182.54 million. Roku’s revenue was up 27.8% compared to the same quarter last year. equities analysts anticipate that Roku will post -0.5 earnings per share for the current fiscal year.
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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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