Roku (NASDAQ:ROKU) Price Target Raised to $86.00

Roku (NASDAQ:ROKU) had its price objective boosted by analysts at Rosenblatt Securities from $61.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 10.95% from the company’s current price.

A number of other research analysts have also weighed in on ROKU. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Tuesday, October 1st. Macquarie boosted their target price on shares of Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird upped their price target on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, Morgan Stanley raised their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.80.

Roku Price Performance

Roku stock opened at $77.51 on Thursday. Roku has a one year low of $48.33 and a one year high of $108.84. The business’s fifty day moving average is $72.95 and its 200 day moving average is $63.56. The stock has a market capitalization of $11.17 billion, a PE ratio of -19.43 and a beta of 2.08.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned ($2.33) EPS. As a group, sell-side analysts expect that Roku will post -1.43 EPS for the current fiscal year.

Insider Activity

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction dated 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 directly owns 200 shares in the company, valued at $15,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,566 shares of company stock worth $5,254,000. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

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