Rosenblatt Securities Forecasts Strong Price Appreciation for Roku (NASDAQ:ROKU) Stock

Roku (NASDAQ:ROKU) had its price target boosted by stock analysts at Rosenblatt Securities from $150.00 to $160.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 13.56% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Benchmark boosted their target price on shares of Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Fox Advisors set a $160.00 target price on shares of Roku in a research report on Tuesday. Wedbush upped their price objective on shares of Roku from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wells Fargo & Company raised their price objective on shares of Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Zacks Research lowered shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Fourteen investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.36.

Roku Stock Down 1.9%

Roku stock opened at $140.90 on Tuesday. Roku has a 12-month low of $77.64 and a 12-month high of $148.88. The firm’s fifty day moving average is $119.60 and its 200 day moving average is $106.65. The company has a market capitalization of $20.77 billion, a PE ratio of 105.94 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company earned ($0.19) EPS. Roku’s quarterly revenue was up 22.4% compared to the same quarter last year. Sell-side analysts expect that Roku will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, insider Mustafa Ozgen sold 10,194 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 205,821 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the completion of the transaction, the insider directly owned 11,131 shares in the company, valued at $1,168,755. This trade represents a 94.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 706,194 shares of company stock valued at $80,756,499. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Jefferies Financial Group Inc. purchased a new position in Roku during the fourth quarter valued at approximately $1,345,000. Holocene Advisors LP grew its stake in Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after acquiring an additional 1,285,585 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Roku during the third quarter valued at approximately $2,997,000. MH & Associates Securities Management Corp ADV purchased a new position in Roku during the fourth quarter valued at approximately $2,398,000. Finally, Magnetar Financial LLC purchased a new position in Roku during the third quarter valued at approximately $5,466,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Key Headlines Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox Corp. agreed to buy Roku for about $22 billion, valuing ROKU at $160 per share and signaling a major premium to pre-deal trading levels. Fox to buy streaming pioneer Roku in a $22 billion deal
• Positive Sentiment: Wall Street has started updating its outlook on Roku following the acquisition announcement, including a higher price target from Citizens JMP, reinforcing investor interest in the stock. Roku price target raised by Citizens JMP
• Positive Sentiment: Roku saw unusually large call-option buying, suggesting traders are positioning for continued upside or more deal-related volatility. Wall Street sets Roku stock price target amid $22B acquisition
• Neutral Sentiment: The acquisition is drawing legal scrutiny, with shareholder-law firms investigating whether Roku shareholders are getting a fair price, which may add headline risk but does not yet change the deal itself. Shareholder alert: investigation of Roku related to sale to Fox
• Neutral Sentiment: Coverage around the merger highlights strategic benefits for Fox’s streaming and advertising ambitions, but investor reaction appears mixed because the deal price may leave limited immediate upside beyond the offer value. Roku Stock Rises. Why $22 Billion Fox Sale May Disappoint.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.