Oppenheimer Boosts Roku (NASDAQ:ROKU) Price Target to $155.00

Roku (NASDAQ:ROKU) had its target price increased by Oppenheimer from $120.00 to $155.00 in a report published on Friday, BenzingaRatingsTable reports. Oppenheimer currently has an outperform rating on the stock.

A number of other analysts have also issued reports on the company. DA Davidson raised their price target on Roku from $135.00 to $185.00 and gave the stock a buy rating in a research note on Wednesday, September 4th. SunTrust Banks lifted their price objective on Roku from $63.00 to $160.00 and gave the company a hold rating in a research note on Monday, September 9th. They noted that the move was a valuation call. ValuEngine lowered Roku from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Wedbush reaffirmed a hold rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $107.00 price objective (up from $90.00) on shares of Roku in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $112.98.

Shares of NASDAQ:ROKU opened at $108.05 on Friday. The stock’s 50-day moving average price is $136.56 and its two-hundred day moving average price is $96.12. Roku has a 12-month low of $26.30 and a 12-month high of $176.55. The firm has a market cap of $15.55 billion, a price-to-earnings ratio of -1,350.63 and a beta of 1.78.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.14. Roku had a negative return on equity of 6.77% and a negative net margin of 2.41%. The firm had revenue of $250.10 million for the quarter, compared to analyst estimates of $223.36 million. The firm’s revenue was up 59.5% on a year-over-year basis. On average, equities analysts predict that Roku will post -0.5 earnings per share for the current year.

In related news, VP Scott A. Rosenberg sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $88.94, for a total transaction of $1,156,220.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 35,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $91.72, for a total value of $3,210,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,419 shares of company stock worth $23,925,946. Company insiders own 22.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Roku during the 2nd quarter valued at about $43,000. Flagship Harbor Advisors LLC raised its holdings in shares of Roku by 64.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 477 shares of the company’s stock valued at $43,000 after buying an additional 187 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Roku by 1,000.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 550 shares of the company’s stock valued at $35,000 after buying an additional 500 shares during the period. James Investment Research Inc. raised its holdings in shares of Roku by 68.4% during the 2nd quarter. James Investment Research Inc. now owns 825 shares of the company’s stock valued at $75,000 after buying an additional 335 shares during the period. Finally, CWM LLC raised its holdings in shares of Roku by 76.0% during the 2nd quarter. CWM LLC now owns 880 shares of the company’s stock valued at $80,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 52.54% of the company’s stock.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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