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Wedbush Initiates a Hold Rating on Roku Inc (ROKU)


Wedbush analyst Michael Pachter initiated coverage with a Hold rating on Roku Inc (NASDAQ: ROKU) today and set a price target of $73. The company’s shares closed yesterday at $66.82.

According to TipRanks.com, Pachter is a 2-star analyst with an average return of 0.7% and a 53.2% success rate. Pachter covers the Services sector, focusing on stocks such as AMC Entertainment, Best Buy Co, and IMAX Corp.

Currently, the analyst consensus on Roku Inc is a Moderate Buy with an average price target of $64.38.

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Based on Roku Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $526K. In comparison, last year the company had a GAAP net loss of $46.24 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock.

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Roku Inc. engages in the provision of a streaming platform for television. It operates through the following 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.

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