Roku, Inc. (NASDAQ:ROKU) Stock Has Average Price Target of $156.17

Roku, Inc. (NASDAQ:ROKU) has been assigned an average recommendation of “Hold” from the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. Eighteen research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $156.17.

A number of analysts recently issued reports on the stock. Citigroup increased their target price on shares of Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Weiss Ratings upgraded Roku from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Wedbush reiterated a “neutral” rating and set a $155.00 target price on shares of Roku in a report on Thursday, September 24th. Needham & Company LLC reissued a “buy” rating on shares of Roku in a research report on Tuesday, November 3rd. Finally, Seaport Research Partners cut Roku from a “buy” rating to a “neutral” rating in a report on Friday, August 7th.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 20,538 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $156.99, for a total value of $3,224,260.62. Following the completion of the transaction, the insider owned 22,700 shares of the company’s stock, valued at approximately $3,563,673. This represents a 47.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 4,824 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $750,807.36. Following the completion of the transaction, the insider directly owned 40,168 shares of the company’s stock, valued at $6,251,747.52. This represents a 10.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 88,028 shares of company stock valued at $13,645,922. 13.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in shares of Roku during the 2nd quarter worth approximately $105,216,000. Contravisory Investment Management Inc. bought a new stake in shares of Roku in the 2nd quarter worth approximately $1,184,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Roku in the 2nd quarter worth approximately $4,474,000. California Public Employees Retirement System boosted its position in shares of Roku by 14.8% during the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock worth $24,674,000 after buying an additional 33,593 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Roku by 31.6% in the first quarter. Lazard Asset Management LLC now owns 96,204 shares of the company’s stock worth $9,103,000 after purchasing an additional 23,092 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Trading Down 0.5%

Shares of Roku stock opened at $159.65 on Thursday. Roku has a twelve month low of $78.53 and a twelve month high of $163.57. The stock has a market capitalization of $23.69 billion, a P/E ratio of 47.46 and a beta of 2.12. The business’s fifty day moving average price is $155.37 and its 200 day moving average price is $129.19.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Monday, November 2nd. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.55 by $0.65. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.41 billion. Roku had a return on equity of 18.65% and a net margin of 9.34%. The firm’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. As a group, sell-side analysts predict that Roku will post 3.17 EPS for the current year.

Key Headlines Impacting Roku

Here are the key news stories impacting Roku this week:

• Neutral Sentiment: Fox says it has closed its acquisition of Roku and that the streaming platform will remain an “open ecosystem.” The completed deal removes uncertainty about whether the takeover would proceed, but the impact for ROKU shareholders depends on the deal terms and settlement details. Fox Closes $22 Billion Roku Takeover
• Neutral Sentiment: Fox is reportedly seeking about $8 billion in investment-grade bonds to help fund the Roku acquisition. This is relevant to Fox’s financing of the transaction, but the article does not indicate a change to Roku’s deal terms. Fox Looks to Sell $8B of High-Grade Bonds for Roku Deal
• Neutral Sentiment: Roku announced Black Friday discounts of more than 50% on select TVs, projectors, and streaming players. Promotions could support holiday device sales and engagement, although steep discounts may weigh on hardware margins. Roku Announces Black Friday Deals

About Roku

Roku, Inc provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers.

Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.

Founded in 2002 by Anthony Wood, Roku serves customers in the United States and other markets.