Roku (NASDAQ:ROKU) PT Raised to $90.00

Roku (NASDAQ:ROKU) had its price target upped by equities researchers at Bank of America from $75.00 to $90.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 21.07% from the stock’s previous close.

Several other brokerages also recently commented on ROKU. Macquarie reduced their target price on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Roku in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Rosenblatt Securities lowered their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $80.29.

Roku Stock Performance

Shares of ROKU opened at $74.34 on Monday. The stock’s 50-day moving average price is $64.68 and its 200 day moving average price is $61.58. Roku has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. Equities analysts predict that Roku will post -1.44 EPS for the current year.

Insider Buying and Selling

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were 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 approximately $2,485,582.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated 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 approximately $2,485,582.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $15,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,945 shares of company stock worth $3,465,135. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC grew its stake in Roku by 4.4% during the fourth quarter. Corient Private Wealth LLC now owns 10,540 shares of the company’s stock worth $966,000 after buying an additional 449 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Roku in the 4th quarter valued at $498,000. Parallel Advisors LLC raised its stake in Roku by 59.6% during the fourth quarter. Parallel Advisors LLC now owns 1,692 shares of the company’s stock worth $155,000 after acquiring an additional 632 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Roku by 17.9% during the 4th quarter. TD Asset Management Inc now owns 22,142 shares of the company’s stock valued at $2,030,000 after purchasing an additional 3,369 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Roku by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 54,661 shares of the company’s stock valued at $5,010,000 after purchasing an additional 530 shares during the last quarter. 86.30% of the stock is currently 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.