Roku (NASDAQ:ROKU) Stock Price Up 6% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) traded up 6% during trading on Monday . The company traded as high as $69.74 and last traded at $69.67. 2,425,494 shares traded hands during trading, a decline of 45% from the average session volume of 4,423,949 shares. The stock had previously closed at $65.70.

Wall Street Analyst Weigh In

A number of research firms have commented on ROKU. Bank of America boosted 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. Jefferies Financial Group reduced their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Thursday. Morgan Stanley upped their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company raised their price target on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $83.95.

Roku Price Performance

The business’s fifty day moving average price is $73.22 and its 200 day moving average price is $63.79. The stock has a market cap of $9.71 billion, a P/E ratio of -58.06 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, analysts predict that Roku, Inc. will post -1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the 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 sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock valued at $5,254,000 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in Roku during the 3rd quarter worth approximately $43,000. EverSource Wealth Advisors LLC increased its stake in Roku by 123.4% during 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 in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of 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 buying an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in shares of Roku during the second quarter valued at about $48,000. Finally, Natixis bought a new stake in shares of Roku during the first quarter worth about $53,000. 86.30% of the stock is owned by 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.