Wells Fargo & Company Raises Roku (NASDAQ:ROKU) Price Target to $74.00

Roku (NASDAQ:ROKU) had its price target hoisted by stock analysts at Wells Fargo & Company from $72.00 to $74.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.63% from the company’s current price.

Several other research firms have also recently issued reports on ROKU. Rosenblatt Securities increased their target price on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, October 1st. Macquarie restated an “outperform” rating and issued a $90.00 price target on shares of Roku in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Finally, Morgan Stanley upped their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.95.

Roku Price Performance

Shares of ROKU opened at $65.70 on Thursday. The business has a fifty day moving average of $73.29 and a 200 day moving average of $63.66. The firm has a market capitalization of $9.51 billion, a P/E ratio of -54.75 and a beta of 2.08. Roku has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned ($2.33) EPS. Roku’s revenue for the quarter was up 16.5% compared to the same quarter last year. Analysts expect that Roku will post -1.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock valued at $5,254,000 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Roku in the third quarter worth about $43,000. Geneos Wealth Management Inc. increased its holdings in shares of Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in shares of Roku during the second quarter valued at about $48,000. Finally, Natixis purchased a new position in shares of Roku in the 1st quarter valued at approximately $53,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.