Robert W. Baird Raises Roku (NASDAQ:ROKU) Price Target to $75.00

Roku (NASDAQ:ROKU) had its price target increased by Robert W. Baird from $56.00 to $75.00 in a research report released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

ROKU has been the subject of several other research reports. Wolfe Research upgraded Roku from a peer perform rating to an outperform rating and set a $93.00 target price for the company in a research report on Thursday, September 12th. Guggenheim raised shares of Roku from a neutral rating to a buy rating and set a $75.00 price objective for the company in a report on Friday, August 23rd. Citigroup boosted their target price on shares of Roku from $60.00 to $77.00 and gave the stock a neutral rating in a report on Wednesday, September 25th. Rosenblatt Securities cut their target price on shares of Roku from $89.00 to $61.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Finally, Wedbush reiterated an outperform rating and issued a $75.00 price target on shares of Roku in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku currently has a consensus rating of Hold and a consensus target price of $80.29.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $74.18 on Monday. The company has a market capitalization of $10.73 billion, a P/E ratio of -18.56 and a beta of 2.06. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The firm’s 50 day simple moving average is $64.93 and its two-hundred day simple moving average is $61.65.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter in the previous year, the company earned ($0.76) EPS. Roku’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Roku will post -1.44 earnings per share for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 owns 5,020 shares in the company, valued at $376,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. The disclosure for this sale can be found here. Insiders sold a total of 47,156 shares of company stock worth $3,481,100 over the last three months. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC increased its stake in Roku by 4.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,540 shares of the company’s stock worth $966,000 after buying an additional 449 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $498,000. Parallel Advisors LLC boosted its holdings in shares of Roku by 59.6% in the fourth quarter. Parallel Advisors LLC now owns 1,692 shares of the company’s stock valued at $155,000 after purchasing an additional 632 shares during the period. TD Asset Management Inc grew its stake in Roku by 17.9% in the fourth quarter. TD Asset Management Inc now owns 22,142 shares of the company’s stock worth $2,030,000 after purchasing an additional 3,369 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Roku by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 54,661 shares of the company’s stock worth $5,010,000 after purchasing an additional 530 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.