Roku (NASDAQ:ROKU) Given New $80.00 Price Target at Loop Capital

Roku (NASDAQ:ROKU) had its price objective upped by research analysts at Loop Capital from $70.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price objective points to a potential downside of 5.04% from the company’s previous close.

A number of other research firms also recently weighed in on ROKU. JPMorgan Chase & Co. upped their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Macquarie reissued an “outperform” rating and issued a $90.00 target price on shares of Roku in a report on Thursday, October 31st. Citigroup upped their price target on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Rosenblatt Securities lifted their price target on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Stock Up 0.2 %

Shares of Roku stock opened at $84.25 on Monday. The company has a 50-day simple moving average of $74.22 and a two-hundred day simple moving average of $66.11. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of -70.21 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its quarterly 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. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned ($2.33) earnings per share. On average, sell-side analysts anticipate that Roku will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the transaction, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,550 shares of company stock valued at $6,621,873 over the last 90 days. Company 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. GS Investments Inc. increased its holdings in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. PFG Investments LLC increased its stake in Roku by 3.7% during the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC raised its holdings in Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares during the last quarter. Mcdonald Partners LLC lifted its stake in shares of Roku by 0.9% in the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after buying an additional 175 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Roku by 4.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after buying an additional 202 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.