Morgan Stanley Boosts Roku (NASDAQ:ROKU) Price Target to $65.00

Roku (NASDAQ:ROKU) had its price target hoisted by analysts at Morgan Stanley from $60.00 to $65.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 14.53% from the stock’s previous close.

Several other equities analysts have also commented on ROKU. JPMorgan Chase & Co. increased their price objective on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Wedbush raised their price objective on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $82.55.

Roku Stock Performance

Roku stock opened at $76.05 on Tuesday. The firm’s fifty day moving average price is $72.38 and its 200-day moving average price is $63.34. The stock has a market cap of $10.96 billion, a P/E ratio of -19.06 and a beta of 2.08. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $937.78 million. During the same period in the previous year, the business earned ($0.76) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts predict that Roku will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,566 shares of company stock valued at $5,254,000. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently bought and sold shares of the business. PFG Investments LLC grew its stake in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after acquiring an additional 150 shares during the period. Mcdonald Partners LLC grew its position in Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after purchasing an additional 175 shares during the period. Sequoia Financial Advisors LLC raised its stake in Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after buying an additional 202 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after buying an additional 222 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in Roku by 17.7% during the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after acquiring an additional 233 shares during the last quarter. 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.