Roku, Inc. (NASDAQ:ROKU) Receives $78.75 Consensus PT from Analysts

Roku, Inc. (NASDAQ:ROKU) has been assigned an average recommendation of “Hold” from the twenty-two research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $79.10.

A number of equities research analysts recently weighed in on ROKU shares. Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Friday, September 13th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, August 23rd. Wolfe Research raised shares of 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. Finally, Bank of America lowered their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’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 value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related 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 transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now directly owns 12,064 shares in the company, valued at $784,160. The disclosure for this sale can be found here. Insiders sold a total of 46,945 shares of company stock worth $3,465,135 over the last three months. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROKU. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. grew its position in Roku by 25.8% during the first 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 during the period. Norges Bank purchased a new position in Roku in the fourth quarter valued at $90,386,000. Quadrature Capital Ltd acquired a new position in shares of Roku in the fourth quarter worth about $35,856,000. Finally, Vanguard Group Inc. boosted its stake 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 worth $1,086,533,000 after acquiring an additional 380,409 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

NASDAQ:ROKU opened at $74.41 on Friday. The firm has a 50-day simple moving average of $64.43 and a 200-day simple moving average of $61.55. Roku has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million during 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%. Roku’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. On average, research analysts forecast that Roku will post -1.44 earnings per share for the current year.

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.