Roku (NASDAQ:ROKU) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Roku (NASDAQ:ROKU) had its target price raised by Rosenblatt Securities from $61.00 to $86.00 in a research report report published on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

ROKU has been the topic of a number of other reports. Macquarie lifted their price objective on Roku from $72.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. JPMorgan Chase & Co. boosted 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. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Roku currently has an average rating of “Hold” and a consensus target price of $83.71.

Roku Stock Performance

NASDAQ:ROKU traded up $1.08 during midday trading on Thursday, reaching $65.16. 2,906,171 shares of the stock traded hands, compared to its average volume of 4,416,850. The stock has a market capitalization of $9.43 billion, a P/E ratio of -53.40 and a beta of 2.08. Roku has a 12 month low of $48.33 and a 12 month high of $108.84. The company has a fifty day moving average of $73.29 and a 200 day moving average of $63.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. Roku’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted ($2.33) earnings per share. On average, analysts predict that Roku will post -1.41 EPS for the current fiscal year.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock worth $5,254,000 over the last 90 days. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

About Roku

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.