Bank of America Increases Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its price target boosted by research analysts at Bank of America from $75.00 to $90.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 20.95% from the stock’s current price.

ROKU has been the topic of a number of other reports. Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday, September 13th. Rosenblatt Securities lowered their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus target price of $79.62.

Roku Price Performance

NASDAQ:ROKU opened at $74.41 on Monday. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The company has a 50-day moving average of $64.43 and a 200 day moving average of $61.53. The firm has a market cap of $10.77 billion, a PE ratio of -18.65 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations 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 revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.76) EPS. Sell-side analysts anticipate that Roku will post -1.44 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value 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 approximately $4,087,933.11. The sale 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 firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following 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. In the last ninety days, insiders sold 46,945 shares of company stock worth $3,465,135. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently made changes to their positions in ROKU. Corient Private Wealth LLC increased its holdings in Roku by 4.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,540 shares of the company’s stock valued at $966,000 after buying an additional 449 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Roku in the 4th quarter valued at about $498,000. Parallel Advisors LLC raised its holdings in Roku by 59.6% in the 4th quarter. Parallel Advisors LLC now owns 1,692 shares of the company’s stock worth $155,000 after purchasing an additional 632 shares during the period. TD Asset Management Inc boosted its position in Roku by 17.9% during the fourth quarter. TD Asset Management Inc now owns 22,142 shares of the company’s stock worth $2,030,000 after purchasing an additional 3,369 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Roku by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 54,661 shares of the company’s stock valued at $5,010,000 after purchasing an additional 530 shares during the period. 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.