Morgan Stanley Boosts Roku (NASDAQ:ROKU) Price Target to $65.00

Roku (NASDAQ:ROKU) had its price target increased by Morgan Stanley from $60.00 to $65.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also recently commented on ROKU. Wedbush raised their target price on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Bank of America upped their target price on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Finally, Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $83.95.

Roku Stock Performance

NASDAQ:ROKU opened at $65.70 on Tuesday. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The firm has a market cap of $9.51 billion, a PE ratio of -54.75 and a beta of 2.08. The business has a 50 day moving average price of $73.29 and a 200-day moving average price of $63.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.30% and a negative net margin of 4.42%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned ($2.33) earnings per share. Research analysts predict that Roku will post -1.41 EPS for the current year.

Insider Activity

In other Roku news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction 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 $4,087,933.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at $15,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock valued at $5,254,000 over the last three months. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in Roku by 243.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after purchasing an additional 1,449 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of Roku by 21.4% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,485 shares of the company’s stock valued at $357,000 after buying an additional 968 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Roku by 30.0% during the 1st quarter. Principal Financial Group Inc. now owns 10,889 shares of the company’s stock valued at $710,000 after acquiring an additional 2,512 shares during the period. Private Advisor Group LLC increased its holdings in Roku by 65.5% in the 1st quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock worth $1,454,000 after acquiring an additional 8,824 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Roku by 206.7% in the first quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock worth $1,755,000 after purchasing an additional 18,146 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other 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.