Roku (NASDAQ:ROKU) Price Target Raised to $172.00 at UBS Group

Roku (NASDAQ:ROKU) had its price objective upped by research analysts at UBS Group from $126.00 to $172.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 12.34% from the stock’s previous close.

Several other brokerages also recently weighed in on ROKU. Piper Sandler downgraded Roku from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $148.00 to $160.00 in a report on Tuesday, June 16th. Evercore downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. William Blair lowered Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Wolfe Research lowered Roku from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Finally, Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Eight research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $156.25.

Roku Price Performance

NASDAQ ROKU opened at $153.11 on Friday. Roku has a 12 month low of $78.53 and a 12 month high of $153.54. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of 65.43 and a beta of 2.01. The firm’s fifty day moving average price is $138.39 and its 200 day moving average price is $116.38.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm earned $0.07 EPS. The business’s revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts forecast that Roku will post 2.41 earnings per share for the current year.

Insider Transactions at Roku

In other news, insider Charles Collier sold 20,538 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $145.93, for a total value of $2,997,110.34. Following the completion of the transaction, the insider directly owned 15,200 shares of the company’s stock, valued at $2,218,136. The trade was a 57.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total value of $1,607,850.00. Following the completion of the sale, the insider owned 40,380 shares in the company, valued at $6,057,000. This represents a 20.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,452 shares of company stock worth $21,811,132 in the last quarter. Insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ROKU. Bayban grew its holdings in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares in the last quarter. WPG Advisers LLC acquired a new position in Roku in the 4th quarter valued at $31,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Roku during the 4th quarter worth $31,000. Rakuten Securities Inc. boosted its holdings in shares of Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.