Macquarie Increases Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its price objective hoisted by Macquarie from $72.00 to $90.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective would indicate a potential upside of 19.60% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup boosted their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Robert W. Baird upped their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Friday, September 13th. Finally, Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.14.

Roku Price Performance

Shares of NASDAQ:ROKU traded up $1.07 during trading on Thursday, reaching $75.25. The company had a trading volume of 1,391,849 shares, compared to its average volume of 4,497,517. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of -18.83 and a beta of 2.06. The stock’s fifty day moving average price is $65.30 and its 200 day moving average price is $61.74. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share 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 firm had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period in the previous year, the business earned ($0.76) earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Roku will post -1.44 EPS for the current fiscal year.

Insider Activity at Roku

In related news, insider Charles Collier sold 3,590 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 3,590 shares of the 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 sale, the insider now owns 12,064 shares in the company, valued at $784,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,156 shares of company stock valued at $3,481,100. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. increased its position 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 acquiring an additional 1,455,408 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Roku during the 4th quarter valued at $35,856,000. Vanguard Group Inc. increased 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 purchasing an additional 380,409 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Roku by 138.1% during 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 period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.