Roku (NASDAQ:ROKU) Price Target Raised to $140.00

Roku (NASDAQ:ROKU) had its target price increased by Bank of America from $115.00 to $140.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group raised Roku from a “hold” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $135.00 in a report on Thursday, December 11th. Pivotal Research lifted their price target on Roku from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Morgan Stanley set a $135.00 price objective on Roku and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Rosenblatt Securities raised their price objective on shares of Roku from $101.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Roku from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Twenty-three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average price target of $119.32.

Roku Trading Down 2.7%

Shares of ROKU stock opened at $107.55 on Monday. The company has a market capitalization of $15.89 billion, a P/E ratio of -537.72 and a beta of 1.95. The business’s 50 day moving average is $104.31 and its two-hundred day moving average is $97.77. Roku has a twelve month low of $52.43 and a twelve month high of $116.66.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, October 30th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business earned ($0.06) EPS. The business’s revenue was up 14.0% on a year-over-year basis. As a group, equities analysts predict that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 3,250 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $108.78, for a total transaction of $353,535.00. Following the transaction, the insider owned 59,094 shares of the company’s stock, valued at $6,428,245.32. This represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 390,282 shares of company stock worth $42,269,179. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its position in Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after purchasing an additional 515 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Roku by 15.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 610,868 shares of the company’s stock worth $43,030,000 after buying an additional 83,677 shares during the period. Focus Partners Wealth acquired a new stake in shares of Roku in the first quarter worth $229,000. Strs Ohio purchased a new stake in Roku during the 1st quarter worth $3,984,000. Finally, Voya Investment Management LLC boosted its position in shares of Roku by 5.4% in the first quarter. Voya Investment Management LLC now owns 40,288 shares of the company’s stock worth $2,838,000 after buying an additional 2,062 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

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.