Roku, Inc. (NASDAQ:ROKU) Receives $156.17 Consensus Price Target from Brokerages

Roku, Inc. (NASDAQ:ROKU) has been given a consensus recommendation of “Hold” by the twenty-seven research firms that are covering the company, MarketBeat reports. Nineteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $156.1667.

ROKU has been the topic of several recent analyst reports. Seaport Research Partners downgraded shares of Roku from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Evercore cut shares of Roku from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. JPMorgan Chase & Co. initiated coverage on shares of Roku in a research report on Monday, August 24th. They set a “neutral” rating and a $160.00 price objective on the stock. Citigroup upped their price objective on shares of Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Finally, Piper Sandler cut shares of Roku from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $148.00 to $160.00 in a report on Tuesday, June 16th.

Roku Stock Down 0.1%

ROKU opened at $154.25 on Wednesday. The firm has a market cap of $22.89 billion, a PE ratio of 65.92 and a beta of 2.05. The business has a fifty day simple moving average of $151.98 and a 200-day simple moving average of $130.26. Roku has a fifty-two week low of $78.53 and a fifty-two week high of $159.89.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 6th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.47. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.Roku’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, equities research analysts anticipate that Roku will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 20,538 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the completion of the sale, the insider owned 22,700 shares in the company, valued at approximately $3,563,673. This represents a 47.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 3,410 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the transaction, the insider directly owned 25,569 shares in the company, valued at $3,979,559.16. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 112,285 shares of company stock worth $16,939,414 over the last quarter. Insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds have recently modified their holdings of the business. Bayban lifted its holdings in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares during the period. Elevation Wealth Partners LLC boosted its position in Roku by 208.7% in the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after buying an additional 215 shares in the last quarter. Osbon Capital Management LLC bought a new stake in Roku during the fourth quarter worth about $45,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Roku during the second quarter worth approximately $47,000. Finally, Hilton Head Capital Partners LLC boosted its holdings in shares of Roku by 175.0% in the 1st quarter. Hilton Head Capital Partners LLC now owns 550 shares of the company’s stock worth $52,000 after acquiring an additional 350 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

About Roku

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.