Roku (NASDAQ:ROKU) Price Target Raised to $85.00

Roku (NASDAQ:ROKU) had its price objective raised by Wedbush from $75.00 to $85.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on ROKU. Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Tuesday. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Tuesday, October 1st. Benchmark restated a “buy” rating and set a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Finally, Guggenheim upgraded 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Roku has an average rating of “Hold” and an average target price of $82.30.

Roku Price Performance

Shares of ROKU stock traded up $1.23 during trading hours on Friday, reaching $75.27. The company had a trading volume of 2,281,507 shares, compared to its average volume of 4,349,150. Roku has a 12 month low of $48.33 and a 12 month high of $108.84. The business has a fifty day simple moving average of $72.38 and a 200-day simple moving average of $63.32. The company has a market cap of $10.85 billion, a price-to-earnings ratio of -18.86 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. During the same period last year, the business posted ($0.76) earnings per share. Roku’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts expect that Roku will post -1.44 earnings per share for the current year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the 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 owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was 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 ninety days. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of the company. Swedbank AB bought a new position in shares of Roku during the 1st quarter valued at approximately $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 lifted its stake in shares of Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after purchasing an additional 13,590 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised 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 buying an additional 11,851 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

About Roku

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.