Piper Sandler Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its target price increased by Piper Sandler from $60.00 to $75.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on ROKU. Citigroup boosted their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Morgan Stanley increased their price target on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday. Rosenblatt Securities boosted their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Bank of America increased their target price on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Roku currently has an average rating of “Hold” and a consensus price target of $83.71.

Roku Trading Up 1.6 %

NASDAQ ROKU traded up $1.05 during trading hours on Thursday, hitting $65.13. 2,641,623 shares of the company’s stock traded hands, compared to its average volume of 4,415,602. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The firm has a market capitalization of $9.42 billion, a P/E ratio of -53.40 and a beta of 2.08. The business’s fifty day moving average price is $73.29 and its two-hundred day moving average price is $63.66.

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

Insider Buying and Selling at Roku

In other 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 completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock valued at $5,254,000 in the last quarter. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB purchased a new stake in Roku during the first quarter worth $1,180,000. SG Americas Securities LLC lifted 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 worth $4,407,000 after purchasing an additional 51,815 shares during the last quarter. Kessler Investment Group LLC boosted its position in Roku by 21.8% during the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after purchasing an additional 13,590 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Roku by 23.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.