Piper Sandler Increases Roku (NASDAQ:ROKU) Price Target to $75.00

Roku (NASDAQ:ROKU) had its price target lifted by stock analysts at Piper Sandler from $60.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 14.16% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, August 23rd. Rosenblatt Securities boosted their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Thursday. Finally, Bank of America upped their target price on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Roku Stock Up 2.5 %

Shares of ROKU opened at $65.70 on Thursday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a market capitalization of $9.51 billion, a P/E ratio of -54.75 and a beta of 2.08. The company has a 50 day moving average of $73.29 and a 200-day moving average of $63.66.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned ($2.33) earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Roku will post -1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 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 directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. 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 in the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Roku by 123.4% in the 2nd 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 last quarter. Future Financial Wealth Managment LLC bought a new position in Roku in the third quarter valued at about $43,000. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 610 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in Roku during the second quarter worth about $48,000. Finally, Natixis bought a new position in shares of Roku in the first quarter worth about $53,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.