Roku (NASDAQ:ROKU) PT Raised to $75.00

Roku (NASDAQ:ROKU) had its price objective boosted by Robert W. Baird from $56.00 to $75.00 in a research note issued to investors on Monday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the stock. Citigroup boosted 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. Needham & Company LLC reissued a buy rating and set a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Bank of America raised their target price on shares of Roku from $75.00 to $90.00 and gave the company a buy rating in a research note on Monday. Benchmark reaffirmed a buy rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Finally, Wedbush reissued an outperform rating and issued a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Roku has an average rating of Hold and a consensus target price of $80.29.

Roku Stock Performance

Shares of ROKU opened at $74.18 on Monday. The stock has a market capitalization of $10.73 billion, a PE ratio of -18.56 and a beta of 2.06. The company has a 50 day moving average price of $64.93 and a 200-day moving average price of $61.65. 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 earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) earnings per share. Equities research analysts forecast that Roku will post -1.44 EPS for the current year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. Insiders have sold a total of 47,156 shares of company stock valued at $3,481,100 in the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. increased its holdings in shares of Roku by 8.7% during the 2nd quarter. Centaurus Financial Inc. now owns 5,020 shares of the company’s stock worth $301,000 after buying an additional 400 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Roku in the 2nd quarter valued at $1,378,000. Granite Bay Wealth Management LLC acquired a new stake in shares of Roku during the 2nd quarter worth about $1,142,000. Quarry LP raised its holdings in Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after buying an additional 944 shares during the period. Finally, Algert Global LLC lifted its position in Roku by 144.4% in the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after buying an additional 32,603 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

About Roku

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.