Roku (NASDAQ:ROKU) PT Raised to $90.00 at Bank of America

Roku (NASDAQ:ROKU) had its target price lifted by Bank of America from $75.00 to $90.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on ROKU. JPMorgan Chase & Co. increased their target price 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. Guggenheim raised Roku from a neutral rating to a buy rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Wedbush reissued an outperform rating and set a $75.00 price objective on shares of Roku in a report on Friday, August 2nd. Macquarie cut their target price on shares of Roku from $88.00 to $72.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Finally, Citigroup lifted their price target on Roku from $60.00 to $77.00 and gave the stock a neutral rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $81.14.

Roku Trading Up 1.7 %

NASDAQ:ROKU opened at $75.45 on Monday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of -18.83 and a beta of 2.06. The company’s 50-day moving average is $65.30 and its two-hundred day moving average is $61.74. Roku has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Roku will post -1.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Roku news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s 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 sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders have sold a total of 47,156 shares of company stock valued at $3,481,100 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of large investors have recently made changes to their positions in the company. Centaurus Financial Inc. grew its stake in Roku by 8.7% during the 2nd quarter. Centaurus Financial Inc. now owns 5,020 shares of the company’s stock valued at $301,000 after acquiring an additional 400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Roku during the second quarter worth approximately $1,378,000. Granite Bay Wealth Management LLC purchased a new position in Roku during the second quarter valued at approximately $1,142,000. Quarry LP increased its stake in Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after buying an additional 944 shares during the period. Finally, Algert Global LLC lifted its position in Roku by 144.4% in the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after buying an additional 32,603 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.