Roku (NASDAQ:ROKU) Price Target Raised to $85.00 at Wedbush

Roku (NASDAQ:ROKU) had its price target boosted by Wedbush from $75.00 to $85.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also issued reports on ROKU. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Tuesday. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Bank of America increased their price objective on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $82.30.

Roku Stock Performance

Shares of ROKU traded up $1.23 during mid-day trading on Friday, hitting $75.27. The company’s stock had a trading volume of 2,281,507 shares, compared to its average volume of 4,349,150. The firm has a market capitalization of $10.85 billion, a PE ratio of -18.86 and a beta of 2.08. Roku has a one year low of $48.33 and a one year high of $108.84. The stock’s 50-day moving average is $72.38 and its two-hundred day moving average is $63.32.

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

Insider Activity

In related news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock worth $5,254,000 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in 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 period. Future Financial Wealth Managment LLC bought a new stake in shares of Roku during the 3rd quarter worth $43,000. Geneos Wealth Management Inc. increased its holdings in Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in Roku in the 2nd quarter worth about $48,000. Finally, Natixis acquired a new position in Roku in the 1st quarter worth about $53,000. 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.