Roku (NASDAQ:ROKU) Price Target Raised to $90.00

Roku (NASDAQ:ROKU) had its price objective lifted by Macquarie from $72.00 to $90.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also issued reports on the company. Needham & Company LLC reaffirmed a buy rating and set a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Benchmark reaffirmed a buy rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Wedbush reaffirmed an outperform rating and set a $75.00 target price on shares of Roku in a report on Friday, August 2nd. Bank of America lifted their price target on Roku from $75.00 to $90.00 and gave the company a buy rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Roku from $80.00 to $90.00 and gave the stock an overweight rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $81.14.

Roku Trading Up 0.6 %

NASDAQ:ROKU opened at $75.89 on Thursday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a fifty day simple moving average of $66.00 and a 200-day simple moving average of $61.90.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) earnings per share. Research analysts forecast that Roku will post -1.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 3,590 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,156 shares of company stock valued at $3,481,100. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB purchased a new position in Roku in the 1st quarter valued at $1,180,000. SG Americas Securities LLC boosted its stake in Roku by 238.6% in the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after buying an additional 51,815 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Roku by 23.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares during the period. Garde Capital Inc. purchased a new stake in shares of Roku during the 4th quarter valued at $105,000. Finally, Vanguard Group Inc. grew its position in Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after acquiring an additional 92,658 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.