Morgan Stanley Raises Roku (NASDAQ:ROKU) Price Target to $65.00

Roku (NASDAQ:ROKU) had its target price lifted by Morgan Stanley from $60.00 to $65.00 in a research note published on Tuesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

ROKU has been the subject of a number of other research reports. Rosenblatt Securities decreased their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. 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 report on Friday, August 23rd. Citigroup raised their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Finally, Benchmark reiterated a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $82.55.

Roku Trading Up 0.5 %

Shares of Roku stock opened at $76.41 on Tuesday. The firm’s 50 day simple moving average is $72.66 and its two-hundred day simple moving average is $63.44. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of -19.15 and a beta of 2.08. Roku has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last released 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. 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 prior year, the firm earned ($0.76) EPS. The firm’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that Roku will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction 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 approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock worth $5,254,000 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new position in Roku during the third quarter worth approximately $43,000. EverSource Wealth Advisors LLC increased its stake in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 610 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in shares of Roku during the 2nd quarter worth $48,000. Finally, Natixis acquired a new position in shares of Roku during the 1st quarter valued at about $53,000. 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.