Roku (NASDAQ:ROKU) Price Target Raised to $75.00

Roku (NASDAQ:ROKU) had its target price raised by research analysts at Robert W. Baird from $56.00 to $75.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 0.79% from the company’s current price.

ROKU has been the topic of a number of other research reports. Macquarie dropped their price target on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Rosenblatt Securities dropped their price objective on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Friday, September 13th. Finally, Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.62.

Roku Trading Up 1.0 %

Shares of ROKU opened at $74.41 on Monday. The company has a market cap of $10.77 billion, a price-to-earnings ratio of -18.65 and a beta of 2.06. The company’s fifty day simple moving average is $64.43 and its 200 day simple moving average is $61.53. Roku has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business 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 was up 14.3% on a year-over-year basis. During the same period last year, the business posted ($0.76) EPS. As a group, research analysts forecast that Roku will post -1.44 earnings per share for the current year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now directly owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction 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. Insiders have sold 46,945 shares of company stock worth $3,465,135 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC grew its holdings in Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. Vanguard Group Inc. increased its position in Roku by 0.8% in the 1st 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in 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 buying an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Roku by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after acquiring an additional 24,926 shares during the period. 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.