Roku (NASDAQ:ROKU) Given New $85.00 Price Target at Wedbush

Roku (NASDAQ:ROKU) had its price target boosted by analysts at Wedbush from $75.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 12.93% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, October 1st. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Benchmark reissued a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.30.

Roku Stock Performance

ROKU stock opened at $75.27 on Friday. The firm has a fifty day moving average price of $72.38 and a 200 day moving average price of $63.33. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The firm has a market cap of $10.85 billion, a PE ratio of -18.86 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The business 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 business’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted ($0.76) EPS. On average, equities analysts predict that Roku will post -1.44 EPS for the current year.

Insider Buying and Selling at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 15,454 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $15,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock valued at $5,254,000 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC raised its holdings in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after purchasing an additional 159,785 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after acquiring an additional 92,658 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Roku by 24.7% during the first 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 last quarter. Nikko Asset Management Americas Inc. boosted its stake 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 valued at $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 worth $30,013,000 after purchasing an additional 24,926 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.