Rosenblatt maintained its Roku [ROKU] rating to the equivalent of Buy but changed the price target to $420.0 from $260, in a research note dated 2021-01-08. That figure represents around a 10.73% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Wells Fargo’s analysts reiterating the shares to “an Overweight” rating in a research note to investors issued in early January. Meanwhile, The Benchmark Company had maintained its rating on ROKU to the earlier “Buy” rating, in a research note produced for clients December 17, 2020. In addition, there was no change from BofA Securities on December 17, 2020. The rater maintained ROKU to “a Buy” but assigned new target price of $380.
Is Roku Inc. [NASDAQ:ROKU] a Good Buy Right Now?
It should be noted that ROKU technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Roku Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 5.39 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 5.41 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 6.82 million shares.
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ROKU Price Performance
On Wall Street, Roku Inc. [NASDAQ:ROKU] finished Thursday’s session up 10.60% at $379.29. The stock went up to $379.39 at the same session while its lowest single day price was $352.00. In the last five days, it saw a rise of about 11.97%, Roku Inc. shares gained by almost 14.24% since the beginning of the year. However, the share price has dropped to as low as 4.36% below its one year high. On 01/07/21, the company shares recorded $379.39, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $316.46. The company’s shares have inclined by 181.71% in the past year. The 50-day SMA achieved is $284.49 while the 200-day SMA is $179.69. Volume gained to 8.09 million from 7.55 million in the previous session.
ROKU Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 361.06 level, and in case of violation of this particular level, it will cause more drop to 342.84 level. On the upper level, 397.62 is still the key resistance. The stock may increase to the subsequent resistance at 388.45. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.74, implying a overbought technical stance while the MACD stands at 8.01, meaning price will increase in the next trading period. Percent R indicator moved to 0.16%, implying bullish price movement. Stochastic %K at 65.36% suggest selling the stock.
What is the short interest in Roku Inc.?
Short interest in the Roku Inc. stock has surged, increasing by 0.15 million shares to total 4.74 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.89 million, data from Yahoo Finance shows. The decrease of -3.16% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.35% of the overall float for the stock.
Roku Inc.’s Biggest Shareholders: Who Owns Roku Inc. [ROKU]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 9,785,629 shares or roughly 8.98% of the outstanding ROKU shares. This means their shares have reduced by -289,386 from the 9,785,629 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $2,502,754,707. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 4.91% stake valued at $1,282,882,112 while ARK Investment Management LLC added theirs at $1,160,955,151. During the last quarter, BlackRock Fund Advisors raised 204,512 of its shares in Roku Inc. while ARK Investment Management LLC bought 631,631 shares. The Nikko Asset Management Co., Ltd.’s holdings currently number 2,612,586 shares at $990927743.94. According to the firm’s last 13F report, Baillie Gifford & Co. shares in the company at filing stood at 2,483,638 shares, roughly $729,121,608.
ROKU Earnings Forecast For The Current Quarter
Roku Inc. [ROKU] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $607.46M and an earnings per share of -$0.08 for Dec 2020. Looking further ahead, the company is expected to report revenue of $459.99M at an EPS of -$0.34 for Mar 2021. The estimates represent upside of 39.10% and 31.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ROKU Earnings Estimates For The Current Year
For the financial year, Roku Inc. [NASDAQ:ROKU] is expected to bring in revenue of $1.74B. The returns are nearly $610.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.76, lower than that of FY19 by -$0.24. Estimates put this year’s earnings growth at -46.20%, 35.50% for the next, and at an annual -31.04% over the next 5-year period. As for sales, forecasts are for an increase of 53.80% in the current fiscal year and a further 39.10% over the following year.