Roku (NASDAQ:ROKU) Price Target Raised to $70.00

Roku (NASDAQ:ROKU) had its target price hoisted by Loop Capital from $65.00 to $70.00 in a report issued on Thursday morning, Benzinga reports. Loop Capital currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on ROKU. Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Morgan Stanley lifted their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Thursday. Finally, Wedbush lifted their price target on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.95.

Roku Trading Up 2.5 %

Shares of ROKU opened at $65.70 on Thursday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock’s 50 day moving average is $73.22 and its two-hundred day moving average is $63.75. The firm has a market capitalization of $9.51 billion, a PE ratio of -54.75 and a beta of 2.07.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company earned ($2.33) EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts predict that Roku will post -1.41 EPS for the current year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $15,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock worth $5,254,000 in the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Swedbank AB acquired a new position in Roku in the 1st quarter valued at $1,180,000. SG Americas Securities LLC grew its stake in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after buying an additional 51,815 shares during the period. Kessler Investment Group LLC grew its stake in shares of Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Roku by 23.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after buying an additional 11,851 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.