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ROKU

Roku

$116.20

-17.51 (-13.10%)

11:40
09/20/19
09/20
11:40
09/20/19
11:40

Roku leads single stock option volume with over 250K contracts in 90 minutes

Roku leads single stock option volume with over 250K contracts in 90 minutes. Shares down nearly $15, or 11%, to $118.80 following bearish analyst comments, with puts leading calls 3:2 and implied volatility up sharply, nearly 10 points in the October term. 55% of today's volume is in Septembers that expire in a few hours, while longer dated flow includes 2800 Oct 100 puts trading at an avg price near $1.96 in seller-dominated flow.

ROKU Roku
$116.20

-17.51 (-13.10%)

09/20/19
PIVT
09/20/19
INITIATION
Target $60
PIVT
Sell
Pivotal starts 'dramatically overvalued' Roku with Sell rating, $60 target
Pivotal Research analyst Jeffrey Wlodarczak initiated coverage of Roku (ROKU) with a Sell rating and $60 price target. The streaming service closed yesterday up 3% to $133.76. The emergence of "dramatically" more competition will likely drive the cost of over-the-top devices to zero and put "material" pressure on advertising revenue splits, Wlodarczak tells investors in a research note partially titled "Is ROKU BROKU?" Comcast's (CMCSA) recent moves with its free Xfinity Flex product will likely be copied by other distributors, adds the analyst. He believes Comcast's move to free will materially reduce Roku's potential outsized subscriber growth and average revenue per user opportunities, or the reasons for the stock's "premium" valuation. Roku management deserves credit for the asset they have created, but "everyone has realized the living room is too important and the big boys with massive leverage" are likely to make the company's growth much more difficult, argues Wlodarczak. The analyst believes that despite the recent selloff, shares of Roku are still "dramatically overvalued."
09/20/19
OPCO
09/20/19
NO CHANGE
Target $155
OPCO
Outperform
Roku price target raised to $155 from $120 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Roku to $155 from $120 and maintained an Outperform rating after evaluating the impact of Roku's international expansion plans and the slew of new OTT streaming services coming to market in the fourth quarter and in 2020. Helfstein tells investors in a research note that he feels Roku's U.S. strategy play-book should allow fast international market share, which generates value of $10/share from the U.K. and $4/share for Brazil. The analyst says that while shares remain expensive, he sees the stock moving higher from current levels given the current growth and bullish secular outlook.
09/20/19
09/20/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Roku (ROKU) initiated with a Sell at Pivotal Research. 2. Carvana (CVNA) initiated with an Outperform at Oppenheimer. 3. Zealand Pharma (ZEAL) and MyoKardia (MYOK) were initiated with a Buy at Guggenheim. 4. Wayfair (W) initiated with a Sell at Berenberg. 5. Eton Pharmaceuticals (ETON) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/19
NEED
09/20/19
NO CHANGE
Target $150
NEED
Buy
Needham defends Roku, says competing successfully against media giants
Needham analyst Laura Martin commented on the recent weakness in Roku stock, telling investors in a research note that even if Roku's hardware sales "went to zero tomorrow," hardware sales represented a total of 5% of Roku's profit contribution and that the financial downside would be "minimal." Martin also argues that Roku's economic momentum is primarily driven by revenue share upside Roku will get from new SVOD services like Apple+ and Disney+ that must pay Roku to access their 30M OTT customers, and that Roku is a stronger competitor with more financial momentum and deeper moats, plus a well-established track record of competing successfully against media giants. She maintains a Buy rating and $150 price target on the stock.

TODAY'S FREE FLY STORIES

JELD

Jeld-Wen

$20.61

-0.3 (-1.43%)

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SPLK

Splunk

$126.80

-0.04 (-0.03%)

05:15
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  • 02

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NFLX

Netflix

$311.88

6.95 (2.28%)

, DIS

Disney

$146.91

0.09 (0.06%)

05:12
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DIS

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$146.91

0.09 (0.06%)

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  • 09

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NPPRF

Nippon Ceramic

$0.00

(0.00%)

05:06
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TTDKY

TDK Corporation

$0.00

(0.00%)

05:04
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TDK Corporation rating change  »

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MRAAY

Murata Manufacturing

$0.00

(0.00%)

05:03
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Murata Manufacturing rating change  »

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FBBPF

Prologis Property Mexico

$0.00

(0.00%)

04:59
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04:59
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Prologis Property Mexico rating change  »

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FBASF

Fibra Uno Administracion

$0.00

(0.00%)

04:58
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04:58
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04:58
Upgrade
Fibra Uno Administracion rating change  »

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TUWOY

Tullow Oil

$0.00

(0.00%)

04:57
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Tullow Oil rating change  »

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ACM

Aecom

$42.39

-0.215 (-0.50%)

04:55
11/22/19
11/22
04:55
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04:55
Conference/Events
Aecom participates in a conference call with BofA/Merrill »

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  • 22

    Nov

  • 10

    Dec

SWKS

Skyworks

$96.45

0.43 (0.45%)

04:55
11/22/19
11/22
04:55
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04:55
Conference/Events
Skyworks management to meet with Piper Jaffray »

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  • 22

    Nov

WDFC

WD-40

$190.11

-2.5 (-1.30%)

04:55
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11/22
04:55
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04:55
Conference/Events
WD-40 management to meet with William Blair »

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  • 22

    Nov

  • 10

    Dec

SONVY

Sonova

$0.00

(0.00%)

04:55
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04:55
Conference/Events
Sonova management to meet with Berenberg »

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  • 22

    Nov

DNA

Bought by RHHBY

$0.00

(0.00%)

04:55
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04:55
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04:55
Conference/Events
Wolfe Research pharma analyst to hold an analyst/industry webcast »

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  • 22

    Nov

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General news
PMI Composite FLASH â€' Level to be reported at 09:45 »

November PMI Composite…

GLOP

GasLog Partners

$15.60

0.22 (1.43%)

04:55
11/22/19
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04:55
Conference/Events
GasLog Partners management to meet with Jefferies »

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  • 22

    Nov

ETFC

E-Trade

$41.56

-4.32 (-9.42%)

04:55
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Conference/Events
E-Trade management to meet with Jefferies »

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  • 22

    Nov

LRCX

Lam Research

$263.88

-10.11 (-3.69%)

04:55
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Lam Research management to meet with KeyBanc »

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  • 22

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LTHM

Livent

$7.37

0.01 (0.14%)

04:55
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Livent management to meet with Loop Capital »

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  • 22

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BAH

Booz Allen

$72.05

-2.055 (-2.77%)

04:55
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Conference/Events
Booz Allen management to meet with Jefferies »

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  • 22

    Nov

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PAYC

Paycom

$261.40

-0.055 (-0.02%)

04:55
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04:55
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04:55
Conference/Events
Paycom management to meet with Oppenheimer »

Meeting to be held in…

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  • 22

    Nov

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    Dec

TMUS

T-Mobile

$77.70

0.03 (0.04%)

04:55
11/22/19
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04:55
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04:55
Conference/Events
T-Mobile management to meet with Morgan Stanley »

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  • 22

    Nov

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    Dec

GLOG

GasLog

$9.35

0.17 (1.85%)

04:55
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04:55
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04:55
Conference/Events
GasLog management to meet with Jefferies »

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  • 22

    Nov

ROG

Rogers Corporation

$129.10

0.43 (0.33%)

04:55
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  • 22

    Nov

NEP

NextEra Energy Partners

$53.01

0.42 (0.80%)

04:55
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04:55
Conference/Events
NextEra Energy Partners management to meet with Wolfe Research »

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  • 22

    Nov

  • 04

    Dec

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