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

Roku (NASDAQ:ROKU) had its price target lifted by stock analysts at Robert W. Baird from $56.00 to $75.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 0.89% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. Citigroup increased their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Benchmark restated a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Macquarie reduced their price objective on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $75.00 price target on shares of Roku in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $80.29.

Roku Trading Down 0.4 %

Shares of ROKU stock opened at $74.34 on Monday. The stock has a fifty day simple moving average of $64.68 and a two-hundred day simple moving average of $61.58. Roku has a 52-week low of $48.33 and a 52-week high of $108.84.

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

Insider Transactions at Roku

In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku 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 sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders sold a total of 46,945 shares of company stock valued at $3,465,135 in the last three months. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Roku in the 4th quarter worth $35,856,000. Vanguard Group Inc. boosted its position in shares of Roku by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after acquiring an additional 380,409 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 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.