Loop Capital Boosts Roku (NASDAQ:ROKU) Price Target to $80.00

Roku (NASDAQ:ROKU) had its price target hoisted by research analysts at Loop Capital from $70.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s target price suggests a potential downside of 2.22% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Rosenblatt Securities boosted their target price on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $100.00 price target (up previously from $85.00) on shares of Roku in a research report on Friday, December 6th. Wells Fargo & Company boosted their price objective on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Price Performance

NASDAQ ROKU opened at $81.82 on Monday. Roku has a 12 month low of $48.33 and a 12 month high of $108.84. The firm has a market capitalization of $11.88 billion, a PE ratio of -68.18 and a beta of 2.06. The company’s 50 day simple moving average is $74.56 and its 200 day simple moving average is $66.49.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the firm earned ($2.33) EPS. Sell-side analysts anticipate that Roku will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,550 shares of company stock valued at $6,621,873. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. Raelipskie Partnership bought a new position in Roku during the 3rd quarter worth about $32,000. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the third quarter worth about $43,000. GS Investments Inc. raised its position in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares in the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in Roku during the 2nd quarter worth approximately $48,000. 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.