Roku (NASDAQ:ROKU) Price Target Raised to $100.00

Roku (NASDAQ:ROKU) had its price target raised by Bank of America from $85.00 to $100.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Redburn Atlantic raised Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, April 7th. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and upped their target price for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Loop Capital raised Roku from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $100.00 in a research note on Tuesday. Rosenblatt Securities cut their target price on Roku from $100.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.93.

Roku Trading Up 1.0%

Shares of NASDAQ ROKU opened at $81.43 on Tuesday. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of -111.55 and a beta of 2.09. The business has a 50-day moving average of $69.12 and a 200-day moving average of $75.09.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Roku’s revenue was up 15.8% on a year-over-year basis. On average, analysts predict that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $85.00, for a total value of $305,150.00. Following the sale, the insider now directly owns 7,380 shares of the company’s stock, valued at $627,300. This represents a 32.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the sale, the chief accounting officer now directly owns 8,555 shares in the company, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,227 shares of company stock valued at $4,994,244. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC grew its position in shares of Roku by 5.4% in the 1st quarter. Voya Investment Management LLC now owns 40,288 shares of the company’s stock worth $2,838,000 after buying an additional 2,062 shares during the period. Anderson Financial Strategies LLC purchased a new stake in shares of Roku in the 1st quarter worth about $68,000. Strs Ohio purchased a new stake in shares of Roku in the 1st quarter worth about $3,984,000. Acadian Asset Management LLC grew its position in shares of Roku by 456.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock worth $134,222,000 after buying an additional 1,563,449 shares during the period. Finally, Focus Partners Wealth purchased a new stake in shares of Roku in the 1st quarter worth about $229,000. 86.30% of the stock is 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.