Roku (NASDAQ:ROKU) PT Raised to $85.00 at Wedbush

Roku (NASDAQ:ROKU) had its target price boosted by Wedbush from $75.00 to $85.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

ROKU has been the subject of several other research reports. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Citigroup raised their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Robert W. Baird upped their price objective on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.30.

Roku Stock Performance

NASDAQ ROKU opened at $76.05 on Friday. The firm’s fifty day moving average is $72.38 and its two-hundred day moving average is $63.34. Roku has a one year low of $48.33 and a one year high of $108.84. The firm has a market cap of $10.96 billion, a PE ratio of -19.06 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) EPS. Research analysts predict that Roku will post -1.43 earnings per share for the current 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 in the company, valued at approximately $376,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 5,020 shares in the company, valued at $376,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock worth $5,254,000 in the last ninety days. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in Roku in the 3rd quarter worth approximately $43,000. EverSource Wealth Advisors LLC grew its position in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the period. Geneos Wealth Management Inc. increased its stake in Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in Roku during the second quarter worth about $48,000. Finally, Natixis acquired a new stake in Roku in the 1st quarter worth about $53,000. Institutional investors and hedge funds 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.